GERMANY: Frank Elsen, former CEO of AHT Cooling Systems, has been appointed CFO of compressor manufacturer Secop.
Frank Elsen joined commercial refrigeration equipment manufacturer AHT as CFO in 2016. He was was made CEO in September 2018 prior to the completion of AHT’s purchase by Daikin, later being replaced by Martin Krutz.
Ricardo Maciel, CEO of the Secop Group, said: “I am confident that Frank Elsen, with his experience from AHT, is a great addition to the Secop leadership team. Under his leadership, our finance team will continue to be an excellent business partner to all business divisions, to the management of Secop, and to its shareholders.”
Secop, the former Danfoss Compressors business, was acquired by the Japanese Nidec Corporation in 2017. It changed hands again last year when Nidec’s proposed acquisition of the Embraco compressor business created antitrust concerns and led to Secop’s sale to the private equity fund ESSVP IV.
The Secop Group has production facilities in Austria, Slovakia, and China and R&D and sales centres in Germany, Austria, Slovakia, China, and USA.
Nidec to sell Secop compressor business – 23 April 2019
JAPAN: Nidec will sell its Secop compressor business to private equity funds ESSVP IV LP, ESSVP IV (Structured) LP and Silenos GmbH & Co KG. Read more…
Daikin UK MD Krutz becomes CEO of AHT – 1 March 2019
UK/AUSTRIA: Daikin UK MD Martin Krutz has returned to Austria as CEO of the AHT Group to be replaced by Angela McGinlay, MD of Daikin Portugal. Read more…