As part of its continued focus on strategic core markets – the food, beverages and pharmaceutical industries – Düsseldorf-based technology group GEA is selling the compressor manufacturer Bock, which is part of its Refrigeration Technologies division.
Bock has been sold to NORD Holding and both parties have agreed not to disclose the financial details of the transaction.
The transaction remains subject to regulatory clearance. Closing of the transaction is expected in early 2021.
Stefan Klebert, CEO of GEA Group Aktiengesellschaft, said NORD Holding is a good fit for Bock.
“It is our firm conviction that NORD Holding will develop Bock’s business potential as a producer of commercial compressors mainly for use in stationary and transport-related cooling applications in the best possible way,” he said.
“In GEA’s Refrigeration Technologies division, we will concentrate in the future on our industrial compressors business. Our portfolio here includes customized solutions for the optimum use of waste heat, enabling our customers to operate their production facilities ever more sustainably or even become carbon neutral.”
Bock has a strong market position, is excellently positioned with its products and is commercially successful.
Since becoming part of the GEA Group, the business has developed positively. Bock is a leading manufacturer of open and semi-hermetic piston compressors in the lower and medium refrigeration capacity range.
The company employs some 340 people worldwide.