Carel acquires Danish dehumidification business
12th July 2026
ITALY/DENMARK: Carel Industries has completed the €56.1m acquisition of Danish company Cotes, a supplier of adsorption dehumidification solutions.
Cotes was established in 1986 and is based in Viby, in the southwest part of Aarhus. With over 120 employees, Cotes operates has a production facility in Poland, and commercial activities supported by an extensive international distribution and partner network. Revenues this year are projected to be around €31.5m, with an EBITDA of approximately €6.5m.
The company’s product portfolio includes modular dehumidifiers, mobile adsorption units, lightweight dehumidifiers, desalting systems for offshore wind applications and ultra-low dew point solutions for critical manufacturing environments.
Carel states that the transaction is fully aligned with its strategy of pursuing growth through targeted acquisitions of businesses offering complementary technologies and solutions in attractive HVAC and refrigeration market segments.
“This acquisition represents another important step in the execution of our strategy to strengthen our position in highly specialised segments of climate control and energy efficient solutions,” commented Carel CEO Francesco Nalini.
“Cotes brings leading expertise in adsorption dehumidification, a highly complementary technology that expands our capabilities in humidity management and enhances the value proposition we offer to customers worldwide. By combining Cotes’ know-how with Carel’s global presence, direct customer relationships and investment capabilities, we see significant opportunities to accelerate growth in a wider range of industrial applications.
The deal is expected to close in the third quarter of this year.
