Sale of Thomassen Compression Systems to Howden for EUR 100mln

Financial advisor to Seller
March 2011
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Thomassen Compression Systems sold to Howden for EUR 100mln

Mahler CF advised Citadel Industries on the sale of Thomassen Compression Systems, the leading supplier of high-power engineered reciprocating compressors for the oil, gas and petrochemical industries, to Howden, a subsidiary of Charter International Plc for EUR 100mln cash.

Thomassen Compression Systems B.V., based in Rheden the Netherlands, focuses on the design, assembly, installation and servicing of custom-made horizontal piston compressors. Howden and Thomassen have very similar core competencies in the application engineering of custom designed, high technology products for performance critical environments. Like the Howden range of piston compressors, these compressors are highly-engineered, large scale products, but with pressures up to 600 bar and power capability up to 25MW. They are designed for high power applications, primarily in the oil refining and petrochemical industries.

The compressor range, which includes screw, centrifugal turbo, diaphragm and horizontal piston compressors, is an increasingly important part of Howden’s global portfolio. Accounting for over 17% of its GBP 562mln turnover in 2010, Howden’s compressors are used for a variety of applications, especially in the oil & gas and petrochemical industries.