Greentech Advises Hitec Power Protection on its Sale to Air Water Inc
July 23, 2019
Hitec Power Protection (“Hitec”) develops, manufactures and delivers full-service turnkey Dynamic UPS solutions to ensure uninterruptible, continuous and conditioned power supply to mission critical processes. Hitec is headquartered in Almelo, Netherlands and operates offices in the U.S., U.K., Spain, China, Singapore, Malaysia, Taiwan and Russia. Hitec employs approximately 270 people.
Prior to the transaction, Hitec was owned by Egeria, an independent Dutch investment company founded in 1997, which focuses on medium-sized Dutch companies or companies with a Dutch connection. Egeria invests in companies with an enterprise value between €50mm and €350mm. Egeria’s portfolio companies have a combined turnover of over €2.3bn and employ close to 10,000 people.
- On July 17th, 2019, Air Water Inc. (“Air Water”) and Egeria reached an agreement concerning the sale of 100% of the issued shares of Hitec to Air Water
- This strategic acquisition will allow Air Water to develop a stronger global critical power business and a more competitive total-solution offering through alignment with, and leverage of, their existing critical power solutions business based in Asia
- As a result of this transaction, Air Water aims to become the “Global No.1” in High Power UPS systems and other critical power related equipment
Greentech Capital Advisors acted as financial advisor to Hitec and Egeria.
The press release of the initial announcement can be found at: