Carel buys humidifier company HygroMatik3rd December 2018
ITALY: Controls and humidifier company Carel has completed its second acquisition in 10 days with the purchase of German humidifier manufacturer HygroMatik GmbH.
Formed in 1970 as Lufttechnischer Apparatebau, HygroMatik is based in Henstedt-Ulzburg, near Hamburg. Part of the Spirax Sarco group, it designs, produces and markets industrial and commercial humidifiers and related accessories.
A major manufacturer of air conditioning and refrigeration controls and humidifiers, Carel is seeking growth through mergers and acquisitions. It sees the purchase of HygroMatik consolidating its positioning in German-speaking countries and in northern Europe
Group CEO Francesco Nalini, said: “The HygroMatik GmbH transaction follows the acquisition of Recuperator SpA completed on 23 November and confirms Carel’s focus on M&A activity as a strategic lever, which, together with organic growth, will be a driver of our development in the coming years. In particular, the integration with HygroMatik, one of the most dynamic and innovative companies in the sector, will allow the Group to improve its positioning on the German and Northern European markets, strengthening its European leadership in reference applications.”