LAATZEN, Germany (PRESS RELEASE) – Emerson is buying German manufacturer Aventics from investment firm Triton for $621.5 million, the company said today.

Aventics makes smart pneumatics technologies that power machine and factory automation applications. The company, with approximately 2,100 employees, will be part of Emerson Automation Solutions. Nearly 40 percent of Aventics’ $425 million in 2017 sales derived from Germany.

“We would like to thank the management team, the employees and all other stakeholders for their contributions to Aventics successful development during Tritons ownership. Triton has been the owner of Aventics for more than four years and we view this as 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. This partnership will open new opportunities for both companies” says Peder Prahl, Director of the General Partner to the Triton fund.

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.

Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. The Emerson Automation Solutions business helps process, hybrid, and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs.