International. The Sauermann Group, a manufacturer of condensate absorption pumps, has acquired, through the French company Sauermann Industrie SA, the French family company KGF Group SA ("KGF"). The parties have agreed not to disclose the financial conditions of the transaction.
KGF consists of three operating companies: KIMO SA, Taulou SAS and Katrem SARL. All of them work in the HVAC/R sector designing, manufacturing and marketing instruments for the measurement and control of indoor air quality. With 300 employees, KGF achieved a turnover of €34 million in 2014. Kimo is the essential part of KGF, with almost 85% of the workforce and a turnover of about 30 million euros in 2014. It is the French market leader for measuring instruments.
"In 2004 we set ourselves several very ambitious goals: from profound transformations in our structure and our financial tools, which have allowed us to consolidate our presence in the four segments of the HVAC/R sector, to the creation of organizations in Asia/Pacific and North America. And although we have achieved them all, we want to go further," said Serge Bohyn (CEO of the Sauermann Group).
The operation, managed by the French investment bank CM-CIC, was concluded and entered into force on July 8 of this year.
