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).
The acquisition reports, if confirmed, will make Daikin a major player in the refrigeration market, following its purchase of Italian manufacturer Zanotti in 2016.
The deal has been negotiated with UK private equity company Bridgepoint, who acquired the company in 2013 for €585m.
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, and counts Aldi and Lidl amongst its customers.
In addition to its main plant in Rottenmann, it has production facilities in China, Brazil and the USA and subsidiaries in the UK and Germany. Turnover in 2016 was €399m.
The company’s UK subsidiary AHT Cooling Systems (UK), based in Buckingham, is the former Caravell UK business bought by AHT in 2008.
Change of owners for AHT – 3 September 2013
AUSTRIA: AHT Cooling Systems, the Austrian manufacturer of commercial plug-in refrigeration equipment, has been bought by private equity group Bridgepoint for €585m. Read more…