Apollo Global Management, Inc., a private equity firm, and Rettig Ltd, a holding company, agreed to acquire Purmo Group, an indoor climate comfort solutions provider, for €392m ($420m).
“The team at Purmo Group has built an impressive business that we believe can play an important role in the clean transition and reach its full potential under a period of private ownership and strategic sponsorship.?Apollo, together with?Rettig, believes?Purmo Group can become one of?Europe’s?leading providers of sustainable indoor climate?solutions,?while retaining a top industry position in radiators.?We?look forward to leveraging our extensive climate industry experience to support the management team and create additional value for Purmo?Group’s?customers, employees and all those it serves,"?Waleed Elgohary, Apollo Global Partner.
Purmo Group (led by John Peter Leesi and Jan-Elof Cavander) is advised by Danske Bank and Castrén & Snellman.?
Apollo?Global (led by Marc Rowan) and Rettig (led by Matts Rosenberg)?are?advised by Advium Corporate Finance, Jefferies, RBC Capital Markets, Avance, Roschier, Attorneys Ltd., Sidley Austin LLP and Miltton.
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Congratulations! Well deserved.