Triton Partners

• Triton Partners To Acquire Flender From Carlyle

  June 7, 2026

  Buyer

  Triton Partners (Triton Fund 6)

  Target

  Flender GmbH

  Seller

  Carlyle Group

  Industry

  Industrial Services

  Location

  Germany

  Type

  Buyout

  Carlyle has agreed to sell Flender, a mechanical drive technology and industrial drive systems manufacturer, to Triton Partners (Triton Fund 6). The transaction is expected to close in the fourth quarter of 2026 and is subject to regulatory approvals, with financial terms reportedly valued at around €3 billion.

• Triton Partners to Acquire Integris Composites from Agilitas Private Equity Funds

  April 13, 2026

  Buyer

  Triton Partners

  Target

  Integris Composites

  Seller

  Funds advised by Agilitas Private Equity LLP

  Industry

  Industrial Services

  Location

  Netherlands

  Type

  Buyout

  Triton Partners’ Fund 6 has signed an agreement to acquire Integris Composites from funds advised by Agilitas Private Equity LLP, subject to regulatory approvals and customary closing conditions. Integris is a global manufacturer of lightweight, mission-critical protection and survivability solutions for defense, law enforcement, aerospace, and marine applications.

• Triton Forms Tendra Technical Services Platform from Three UK Technical Services Firms

  December 15, 2025

  Buyer

  Triton Smaller Mid-Cap Fund II (Triton)

  Target

  The James Mercer Group, Fletchers Engineering, Coat Facilities Group

  Industry

  Industrial Services

  Location

  England, United Kingdom

  Type

  Buyout

  Triton Smaller Mid-Cap has established Tendra Technical Services, a new UK platform consolidating The James Mercer Group, Fletchers Engineering and Coat Facilities Group. Triton will back the platform to drive organic growth, operational improvement and further strategic acquisitions to create a national technical services provider in the built environment.

• Apollo Funds To Acquire Majority Stake in Kelvion

  August 13, 2025

  Buyer

  Apollo Funds, Triton (retaining minority interest)

  Target

  Kelvion

  Seller

  Funds advised by Triton

  Industry

  Industrial Services

  Location

  Germany

  Type

  Buyout

  Apollo plans to acquire a majority stake in Kelvion, a global provider of energy-efficient heat exchange and cooling solutions, in a deal valued at about €2 billion. Apollo will purchase the stake from funds advised by Triton, which will retain a minority interest; the transaction is expected to close after regulatory approvals, between Q4 2025 and Q1 2026.

• Cargotec Sells MacGregor Business to Triton-Managed Funds

  July 31, 2025

  Buyer

  Triton (funds advised/managed by Triton)

  Target

  MacGregor business area (MacGregor)

  Seller

  Cargotec Corporation (Cargotec Oyj)

  Industry

  Industrial Services

  Location

  Finland

  Type

  Divestiture

  Cargotec has signed an agreement to sell its MacGregor business area to funds managed by Triton for an enterprise value of EUR 480 million to support Hiab’s future growth. Closing is expected by 1 July 2025 at the latest, with MacGregor reported as discontinued operations from Q4 2024; Triton later completed the acquisition on 31 July 2025.

• Stonepeak to Acquire ~50% Co-Control Stake in IFCO Group from ADIA (with Triton)

  July 9, 2025

  Buyer

  Stonepeak, Triton

  Target

  IFCO Group

  Seller

  Wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA)

  Industry

  Packaging

  Location

  Germany

  Type

  Buyout

  Stonepeak entered into a definitive agreement to acquire an approximately 50% co-controlling stake in IFCO Group, a global reusable packaging provider for fresh foods, from a wholly-owned subsidiary of ADIA. Triton will remain an existing investor, and the two investors are expected to hold joint and equal ownership and governance of IFCO.

• Triton Forms Lohkare Infra Platform with Acquisition and Merger of Three Finnish Regional Contractors

  June 30, 2025

  Buyer

  Triton Smaller Mid Cap Fund II (advised by Triton)

  Target

  VM Suomalainen Oy, Lännen Alituspalvelu Oy, Oteran Oy, Lohkare Infra

  Industry

  Infrastructure

  Location

  Finland

  Type

  Buyout

  Triton Smaller Mid Cap Fund II (advised by Triton) has created Lohkare Infra by acquiring and merging three regional Finnish infrastructure services companies — VM Suomalainen Oy, Lännen Alituspalvelu Oy, and Oteran Oy — into a decentralised national platform. The new group operates across Finland, employs ~200 people, generates nearly EUR 200 million in annual turnover with ~EUR 25 million EBIT, and will pursue buy-and-build consolidation of the fragmented Finnish infrastructure services market.

• bluu unit Acquires WILMS Kälte‑Klima‑Lüftung Systemtechnik

  May 8, 2025

  Buyer

  bluu unit GmbH, Triton Mittelstand Fund II

  Target

  WILMS Kälte‑Klima‑Lüftung Systemtechnik GmbH

  Industry

  HVAC & Mechanical

  Location

  North Rhine-Westphalia, Germany

  Type

  Addon

  bluu unit, a company backed by Triton Mittelstand Fund II, has acquired WILMS Kälte‑Klima‑Lüftung Systemtechnik GmbH, a refrigeration, air‑conditioning and ventilation specialist based in Mönchengladbach, Germany. The add‑on strengthens the capabilities and regional presence of the bluu unit alliance (notably K3 Kälte Klima Köln GmbH) in North Rhine‑Westphalia.

• Ramudden Global (Triton) Acquires Curtin Co. and Carolina Traffic Devices

  March 11, 2025

  Buyer

  Ramudden Global, Triton Fund IV (Triton Partners)

  Target

  Curtin Co., LLC, Carolina Traffic Devices, LLC

  Industry

  Infrastructure

  Location

  United States

  Type

  Addon

  Ramudden Global, a portfolio company of Triton Fund IV, has acquired Curtin Co., LLC and Carolina Traffic Devices, LLC, strengthening its road and urban safety infrastructure capabilities in the southeastern United States. The deal expands Ramudden Global's temporary traffic management and heavy-highway installation footprint across key US markets.

• Flokk Acquires Via Seating from Groupe Lacasse

  February 13, 2025

  Buyer

  Flokk, Triton

  Target

  Via Seating

  Seller

  Groupe Lacasse

  Industry

  Manufacturing

  Location

  Nevada, United States

  Type

  Addon

  Flokk, a Triton portfolio company and leading European office-seating manufacturer, has acquired US-based Via Seating from Groupe Lacasse. The deal adds Via Seating (headquartered in Reno, Nevada, ~150 employees) to Flokk's brand portfolio as part of its ongoing US buy-and-build strategy to strengthen its North American presence.

• Leadec Acquires Servycat's Spanish Service Businesses

  January 16, 2025

  Buyer

  Leadec, Triton

  Target

  Manteniments Industrials Servycat 2017, S.L.U., Electro Servycat, S.L.

  Industry

  Industrial Services

  Location

  Catalonia, Spain

  Type

  Addon

  Leadec, a Triton Fund IV portfolio company, acquired Manteniments Industrials Servycat 2017, S.L.U. and Electro Servycat, S.L. (Servycat) effective January 2, 2025. The acquisitions expand Leadec's technical maintenance, mechanical/electrical installation and metalworking capabilities in Catalonia and strengthen its presence in the food & beverage and broader industrial end markets; Servycat has about 330 employees and is based in Vic, Catalonia, Spain.

• Triton Acquires Bosch Security and Communications Technology Product Business (BSCT)

  December 12, 2024

  Buyer

  Triton (funds advised by Triton)

  Target

  Bosch Security and Communications Technology product business (BSCT)

  Seller

  Bosch Group

  Industry

  Manufacturing

  Location

  Germany

  Type

  Buyout

  Funds advised by Triton have signed an agreement to acquire the Bosch Security and Communications Technology product business (BSCT) from the Bosch Group. BSCT—maker of video surveillance, access and intrusion control, and professional communication products (brands include Dynacord, Electro-Voice, RTS, Telex)—has ~4,300 employees, generated more than €1 billion in revenues in FY2023, and the transaction is expected to close by the end of H1 2025 subject to regulatory approvals.

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