Rueil-Malmaison (France), June 18, 2014 – Schneider Electric announces today that it has obtained all required regulatory approvals and subsequently finalized the sale of the Invensys Appliance division, which will be renamed Robertshaw Controls Company, to an affiliate of Sun European Partners, LLP. The consideration for the transaction is £150 million.
The disposal followed a strategic review of the Appliance division that concluded the unit was not a core business to Schneider Electric. The Appliance division is one of the world’s largest suppliers of components and systems that control the operation of appliances, including cooking, refrigeration, laundry and dishwashing, in both residential and commercial sectors. In the financial year ended 31 March 2013, the division recorded an operating profit before exceptional items of £8 million on revenues of £331 million, net of intercompany transactions.
About Schneider Electric
As a global specialist in energy management with operations in more than 100 countries, Schneider Electric offers integrated solutions across multiple market segments, including leadership positions in energy and infrastructure, industrial processes, building automation, and data centers/networks, as well as a broad presence in residential applications. Focused on making energy safe, reliable, efficient, productive and green, the company's 150,000 plus employees achieved sales of 24 billion Euros in 2013, through an active commitment to help individuals and organizations “Make the most of their energy.”