Triton Group has closed the Triton 1A fund, a top-up to the original Triton fund, which closed in March 2000 at euro590 million. The new fund has raised euro60 million, bringing total capital under management to euro650 million.
Triton Group was set up in 1999 and takes majority interests in market-leading, cash flow positive companies in German and Nordic-speaking regions. The new fund will follow the same investment strategy as its predecessor. Triton has offices in Frankfurt, Stockholm, London and Jersey. So far the fund has made five investments and seven add-on investments.
A typical investment for the company is Datentechnik, the data transmission services division of Siemens, which was bought for an undisclosed sum. Management took a minority equity stake in the deal, which was supported by a euro22 million mezzanine tranche from PRICOA Capital Group.