The Düsseldorf-based mechanical engineering group GEA Group announced the sale of its Heat Exchangers segment to funds managed by Triton.

The sale is valued at approximately $1.8 billion. The transaction is still subject to the approval of the antitrust regulators. Closing is expected by the end of the year. With the divestment, GEA Group increases its food processing technology share to over 70 percent of group revenue.