Danfoss to buy compressor manufacturer Bock
DENMARK/GERMANY: Danfoss has announced its intention to acquire German compressor manufacturer Bock GmbH from private equity company Nord Holding.
Bock, one of the world’s best known industrial and commercial compressor manufacturers, was acquired by Nord Holding from GEA in 2020.
With the acquisition, Danfoss will add the world’s largest portfolio of semi-hermetic compressors for “natural” refrigerants such as CO2 (R744), hydrocarbons, and other low-GWP refrigerants to its already strong portfolio of oil-free centrifugal compressors, inverter-scroll, reciprocating and screw compressors and condensing units.
With an existing workforce of around 350 compressor specialists worldwide and four manufacturing sites in Frickenhausen, Germany, Stribo, Czech Republic, Bangalore, India, and Suzhou, China, Bock GmbH has built a strong reputation as a high-end, quality compressor manufacturer serving mobile and stationary refrigeration systems in transport, bus, retails, logistics, storage, and food processing.
Danfoss says it intends to invest in the business, “paving the way for green growth, and a more sustainable, energy efficient and decarbonised future,” while broadening its scope of sustainable technologies.
“It has never been more relevant to accelerate the green transition, and efficient compressors running with low GWP refrigerants are instrumental to achieving that target,” said Danfoss Climate Solutions president Jürgen Fischer. “By expanding our portfolio with the Bock range of semi-hermetic compressors we deliver on our promise to help our customers decarbonise.”
Danfoss Commercial Compressors president Kristian Strand added: “The acquisition will create a unique position in the market for Danfoss’ commercial compressors business, and our customers will benefit from a complete compressor portfolio including semi-hermetic compressors for CO2, which will help in the transition to alternative refrigerants and greater energy-efficiency.”
Desscribing the acquisition as “an exciting moment”, Bock CEO Dr Marcus Albrecht comented: “After our strong and successful growth in the last two years, now becoming part of the Danfoss family will open new business opportunities for Bock. Based on our close partnership, we can say with certainty that together we are ideally positioned to become one of the strongest players in the compressor business globally.
The transaction is subject to regulatory approval and is expected to close no later than Q1 2023.
GEA Bock becomes Bock GmbH – 3 March 2021
GERMANY: Compressor manufacturer Bock is celebrating its renewed independence with a new logo and website with the motto “the clever art of cooling”. Read more…
GEA sells Bock to private equity business – 22 September 2020
GERMANY: GEA has sold refrigeration compressor manufacturer Bock to German private equity business Nord Holding. Read more…
GEA plans sale of Bock refrigeration business – 15 October 2019
GERMANY: GEA is exploring a possible sale of its GEA Bock refrigeration compressor business. Read more…