Exit: Triton completes sale of Ovako

Stock­holm (Sweden) / Tokyo (Japan) — Funds advi­sed by Triton (“Triton”) have successfully comple­ted the sale of Ovako AB (“Ovako”), a leading Euro­pean produ­cer of struc­tu­ral steel, to Nippon Steel & Sumitomo Metal Corpo­ra­tion (“NSSMC”), one of the world’s largest steel produ­cers by volume (as of 2017).

Triton acqui­red Ovako in the wake of the finan­cial crisis in 2010. During the seven years under Triton, Ovako’s manage­ment and board have worked toge­ther on a number of impro­ve­ment initia­ti­ves to streng­then Ovako’s posi­tion as one of Europe’s leading struc­tu­ral steel produ­cers. Key impro­ve­ment initia­ti­ves include clear segment stra­te­gies, manu­fac­tu­ring effi­ci­en­cies, employee safety programs, invest­ments in product deve­lo­p­ment, buil­ding a new global sales orga­niza­tion and intro­du­cing digi­tal tools to improve the sales process.

About Ovako
Ovako deve­lops high-tech steel solu­ti­ons for and in colla­bo­ra­tion with its custo­mers in the storage, trans­port and manu­fac­tu­ring indus­tries. Ovako Steel makes its custo­mers’ end products more dura­ble and extends their service life, ulti­m­ately resul­ting in smar­ter, more energy-effi­ci­ent and envi­ron­men­tally friendly products.

Ovako produc­tion is based on recy­cled scrap and includes steel in the form of bars, tubes, rings and pre-compon­ents. Ovako is repre­sen­ted in more than 30 count­ries and has sales offices in Europe, North America and Asia. Ovako gene­ra­ted sales of 921 million euros in 2017 and employed 3,040 people at the end of the year. For more infor­ma­tion, please visit www.ovako.com

About Triton
The Triton funds invest in and support the posi­tive deve­lo­p­ment of medium-sized compa­nies based in Europe and focus on compa­nies in the indus­trial, busi­ness services and consumer/health sectors.

Triton is commit­ted to helping build better compa­nies for the long term. Triton and its leaders are commit­ted to helping shape posi­tive change toward sustainable opera­tio­nal impro­ve­ments and growth. The 36 compa­nies curr­ently in Triton’s port­fo­lio have combi­ned sales of around €13.2 billion and employ around 89,000 people.

The Triton funds are advi­sed by specia­li­zed teams of profes­sio­nals in Germany, Sweden, Norway, Finland, Denmark, Italy, the UK, the US, China, Luxem­bourg and Jersey.