Lu-Ve completes €67m AL Air purchase
ITALY: Lu-Ve SpA has completed the acquisition of AL Air, the air heat exchanger division of Alfa Laval for €67.1m. The agreement was first announced in December.
AL Air is described as one of the leading manufacturers of industrial and commercial ventilated heat exchangers, for the industrial refrigeration and processes markets. The company achieved revenues of €108.1m in 2018.
Along with the AL Air headquarters in Alonte, Vicenza, the acquisition includes factories in Italy, Finland and India, a global commercial organisation and well-known brands such as Fincoil and Helpman.
Lu-Ve president Iginio Liberali said the acquisition was the largest ever made by the group. “Thanks to this, the group now ranks among the three largest global operators in the sector and becomes the second in Europe,” he said.
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