Carel buys Italian heat exchanger firm

ITALY: Refrigeration controls and humidification company Carel has acquired the entire share capital of Recuperator SpA, an Italian manufacturer of air-to-air heat exchangers.

Based in Rescaldina, near Milan, Recuperator was founded in 1973 by Antonio Contardo, the founder of the heat-exchanger coil manufacturer Contardo.

Carel sees the acquisition of Recuperator expanding its product portfolio and consolidating its role as a supplier of complete solutions to manufacturers of air handling units.

Carel CEO Francesco Nalini said the acquisition was part of its plans for growth through mergers and acquisitions.

“The integration with dynamic, cutting edge and complementary companies with respect to our business will be an accelerator of development that will be accompanied by organic growth, the latter based on the characteristics that have always distinguished us: innovation, energy efficiency and customer care,” he said.