Acquired by

Acquisition of ARMATURY Group by Vexve

ARMATURY Group is a modern, rapidly growing valve manufacturer, serving the gas pipeline, power and metallurgical sectors. The Company is headquartered in Dolní Benešov, Czech Republic, where it employs around 550 people in its modern and well invested, ca. 75 000 m² company area. ARMATURY generates revenue of ca. €60 million and around 80% of the Company’s products are exported to over 60 countries. This transaction represented DevCo Partners’ first acquisition outside Finland and the first add-on acquisition of their portfolio company Vexve Oy, the leading manufacturer of valves for the global district energy sector, which DevCo acquired in June 2016.

Our main value creation components were:

  • Conducting a thorough market analysis to develop a deep understanding of the flow control industry
  • Global screening of suitable targets based on specific target criteria, leveraging the connections and industry insight of the IMAP organization
  • Facilitating several introductory meetings with potential targets and providing full support throughout the discussions
  • Supporting the Due Diligence phase, especially concentrating on commercial Due Diligence matters

DevCo Partners

DevCo Partners, backed by investors such as Rettig Group, Ilmarinen, Matti Alahuhta, Georg Ehrnrooth, Antti Herlin, Ilkka Paananen and Kari Stadigh,  is a long-term oriented owner-operator, which is dedicated to building world leading companies in selected niche markets.

DevCo provides its companies with hands-on operational resources, strategic support from a unique industrial network and significant financial resources to support step changes in their performance.

DevCo is currently the majority owner of three global niche leaders, Vexve, Medix Biochemica and ARMATURY Group.

Vexve Oy

Vexve Oy is a globally leading supplier of valve solutions for heating and cooling needs in urban and industrial environments.
Developed for demanding applications, Vexve’s valve and control products together with its hydraulic control solutions are used in district energy networks and power plants in addition to the heating and cooling systems of all sizes of buildings.
The turnover of the company was €49 million in 2018.