Triton, the parent company of Aventics, has announced its intention to sell the company to global technology and engineering company Emerson.
Triton has owned Aventics for more than four years but according to the company, a sale now is an appropriate time for a long term industrial owner to continue the development of Aventics.
"Emerson is an ideal partner for Aventics going forward with an ideal cultural fit," said Peder Prahl, director of the general partner to the Triton fund. "This partnership will open new opportunities for both companies."
The transaction is expected to close in the third quarter of 2018 subject to regulatory approvals, finalization of necessary consultations and other customary closing conditions.