We would like to inform you that the Nidec Corporation has signed an agreement to sell Secop to ESSVP IV, advised by Orlando Management AG, a very experienced Private Equity firm with a long and successful track record in developing businesses in the industrial sector. Please refer to the Nidec Corporation Press Release below for further information on the transaction, and visit Orlando Management AG website and find out more about the ESSVP IV fund (https://www.ssvp.gg/ssvp-funds/essvp-iv/).
We as management are very excited to develop our business as a stand-alone entity, operating globally with our brand Secop, and with continued enhancement of the services, products and support we provide you. As part of this transaction, the business has access to over 50 m€ that has been set aside and secured for investment over the next 3 years. This will give us the opportunity to further develop our products and manufacturing processes while bolstering our infrastructure to serve the market.
We have just concluded the financial year with significant growth in our relevant business areas and geographies. Financially we have delivered a solid performance on which we can shape our own future together with a potent investor like ESSVP IV. We are also very excited about the new products under development which will enhance customer value in terms of efficiency, noise and cost in the coming years. As a stand-alone company Secop will be even more customer driven, agile and flexible and we will strive to deliver superior value to our customers and business partners.
The expected timeframe for the closing of this transaction will be approximately three months. We will communicate timely any relevant development along this clearance process.
No change is expected in the Secop organizational structure, processes or communication channels. Your contact person in the company will also remain unchanged.
We would like to sincerely thank you for the high level of cooperation and trust placed into our organization to date as well as reinforce our commitment to our partnership and continued business in the upcoming future.
Sincere regards,
Ricardo Maciel
President & Hold Separate Manager
COLD Business Unit
Nidec Global Appliance Compressors Press Release
Agreement to Sell Secop to ESSVP IV
Nidec Corporation Press Release
Nidec to Sell Its Secop Compressor Business to ESSVP IV Advised by Orlando Management