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Daikin confirms €881m purchase of AHT

JAPAN: Daikin has confirmed the acquisition of the Austrian commercial refrigeration company AHT for €881m (JPY114.5bn).

With headquarters in Rottenmann in the heart of the Austrian Alps, AHT Cooling Systems is one of the leading manufacturers of plug-in supermarket refrigerators and freezers.

Daikin will obtain all company shares from UK investment company Bridgepoint. Completion of the acquisition is planned for January 2019.

In a statement, Daikin says that with the acquisition it will be able to “propose total systems that cover the entire cold chain” as it bids to further strengthen its business as a comprehensive air conditioning and refrigeration manufacturer.

“With this acquisition, Daikin is adding AHT showcases to its own wide range of products, services, and solutions based on its air conditioning and refrigeration equipment,” Daikin says. “This will enable the company to become a one-stop provider offering complete coordination of air conditioning and refrigeration products. This acquisition is also expected to solidify Daikin’s business foundation in Europe and promote full-scale expansion of its refrigeration business in the United States as well as Asia.”

The Japanese manufacturer began European sales of refrigeration and freezing systems for supermarkets and convenience stores in 2000. In 2016, Daikin acquired Italian commercial refrigeration manufacturer Zanotti, extending its business to industrial refrigeration equipment for food processing and warehouse storage in addition to refrigeration equipment used in shipping such as marine containers and overland trucks and vans.

AHT employs around 1600 people and achieved revenues of €481m in 2017.

Related stories:

Daikin to acquire AHT Cooling25 November 2018
JAPAN/EUROPE: The Nikkei is reporting that Daikin is set to acquire commercial refrigeration equipment manufacturer AHT Cooling Systems for just over JPY100bn ($885m, €780m). Read more…

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