JAPAN/UK: Air conditioning manufacturer Panasonic has acquired UK distributor AMP.
Founded in 1989, AMP has grown to become one of the largest independent air conditioning distributors in the UK, operating from headquarters in Welwyn Garden City.
The acquisition is said to be part of Panasonic’s overall strategy to expand sales, particularly of its commercial and industrial heating and cooling solutions, and “strengthen its aim to provide the most energy efficient systems to the market”.
A formal announcement is expected on Wednesday but there has been no indication, as yet, what will happen with the other manufacturers’ products that AMP also represents. In addition to Panasonic, AMP currently also sells Toshiba, Fujitsu and Mitsubishi Heavy air conditioning equipment, but it seems unlikely that these arrangements will continue under the new owners.
In a statement, Panasonic Air Conditioner Company president Toshiyuki Takagi said: “Europe is a key region for our global air conditioning business. Panasonic is committed to being a strategic partner for AMP and we aim to expand our business in Europe through this collaboration.”
Polly McConachie and Martin Michaelson, founders and co-managing directors of AMP said, “This is a great opportunity for AMP to expand our air conditioning business in the UK. With the strength and support of Panasonic behind us, we are now able to pursue an exciting growth strategy whilst at the same time supporting Panasonic in their longer term commercial goals in the UK.”