Strategy GEA sells manufacturer Bock to Nord Holding
The purchase agreement was signed this week. The parties have agreed not to disclose the financial details of the transaction. The transaction remains subject to regulatory clearance. Closing of the transaction is expected in early 2021.
Bock has a strong market position, is excellently positioned with its products and is commercially successful. Since becoming part of the GEA Group, the business has developed very positively. Bock is a leading manufacturer of open and semi-hermetic piston compressors in the lower and medium refrigeration capacity range. The company employs some 340 people worldwide and generated sales of almost € 90 mill. in the 2019 fiscal year. Two-thirds of the employees work at GEA Bock’s headquarters in Frickenhausen, Germany. There are three additional locations in the Czech Republic, India and China.