The AICHELIN Group, one of the world’s leading providers of heat treatment solutions, has finalized the acquisition of the NTS & UPC business units from NITREX Inc., a portfolio company of Novacap, a leading North American private equity investor. The HTS division of Nitrex is not part of the transaction.
With around 250 new employees in the USA, Poland, Germany, France, and China, the AICHELIN Group is expanding to more than 1,350 employees in total, generating combined revenues of approximately 230 million euros. This represents the largest acquisition in the company’s history and marks another milestone in the implementation of its Strategy 2030.
The acquisition expands AICHELIN Group’s technology portfolio with leading expertise in nitriding furnaces and strengthens its presence in key industrial regions. The integration of the NITREX sites will take place step by step, in close coordination with the respective local leadership teams.
“This acquisition is an important step in the execution of our strategy. We want to grow meaningfully, with a strong foundation, local proximity, and technological excellence. Together with NITREX, we are combining know-how and regional strengths for the benefit of our customers, employees, and all stakeholders,” says Christian Grosspointner, CEO of the AICHELIN Group.
Consistent Implementation of Strategy 2030
With its Strategy 2030, the AICHELIN Group has set a clear roadmap for sustainable growth and technological advancement. The focus is on diversification into new industries and applications, driven both by in-house development initiatives and targeted acquisitions. Under the motto “think global, act local”, the emphasis lies on tailoring products, services, and structures to regional market requirements in order to strengthen customer proximity and responsiveness.
With the integration of NITREX, the Group is consistently executing this strategy: the portfolio is being expanded with leading nitriding technologies, while at the same time strengthening its presence in the USA, Europe, and China with additional sites.
About the AICHELIN Group
The AICHELIN Group, headquartered in Mödling near Vienna and part of the Berndorf AG, is one of the world’s leading providers of heat treatment solutions. Its portfolio includes industrial furnaces, industrial heating systems, nitriding systems, control and automation systems, Industry 4.0 solutions, as well as service offerings. The company’s roots date back to 1868. In addition to the traditional AICHELIN brand, the Group includes AFC-Holcroft, SAFED, BOSIO, NOXMAT, and NITREX, making it one of the world’s top three heat treatment companies with around 1,350 employees. The AICHELIN Group operates subsidiaries in Austria, Germany, Slovenia, France, Poland, Turkey, China, India, and the USA. Its global presence is further strengthened by an international sales network. www.aichelin.com
About Nitrex
NITREX is the lead provider of fully integrated heat-treating solutions and technologies globally. The company was founded in 1984 in Montreal, Canada and operates three business units – Nitrex Turnkey Systems (NTS) a leader of turnkey nitriding, nitrocarburizing, and vacuum heat treat systems; Heat Treating Services (HTS) a worldwide network of commercial heat-treating service centers; and UPC, a leading provider of controls upgrade and automation solutions for heat treating and combustion. NITREX serves its customers globally from 14 locations across the United States, Canada, Mexico, Brazil, Germany, Poland, Italy, France, China, Japan, and through a global network of representatives and licensees. For more information, visit: nitrex.com
About Novacap
Novacap is a leading North American private equity investor and one of Canada’s most experienced private equity firms. Founded in 1981 to partner with visionary entrepreneurs, Novacap focuses on middle market and lower-middle market companies in four core sectors: Technologies, Digital Infrastructure, Industries and Financial Services. Novacap combines deep sector specific expertise and strategic and operational excellence to partner with entrepreneurs and management teams. Since its inception, the firm has made primary and add-on investments in more than 250 companies. With over US $10 billion in assets under management and a presence across offices in Montreal, Toronto, and New York, Novacap accelerates value creation through strategic growth initiatives and a strong focus on execution.
