Midea to acquire Arbonia HVAC businesses
19th April 2024
SWITZERLAND: Midea has agreed the €760m purchase of Swiss group Arbonia’s Climate Division, which includes HVAC businesses Sabiana, Termovent and Tecna.
The acquisition through Midea subsidiary Midea Electrics Netherlands BV follows an announcement by Arbonia at the end of February that it had received several “unsolicited expressions of interest” in purchasing its HVAC businesses.
In addition to Sabiana, Arbonia’s Climate Division includes the heating system brands Kermi, Prolux and Vasco as well as the focused brands Arbonia, Britec, Brugman, Cicsa, PZP, Solius, Superia, Tecna, and Termovent.
Sabiana operates from four sites in the Corbetta and Magenta areas of Milan. It manufactures and supplies a range of products including air handling units, fan coils, evaporative coolers and heat recovery units.
Termovent is a Serbian manufacturer of air handling units and clean rooms acquired by Arbonia in 2021. Spanish company Tecna, specialising in air conditioning, ventilation, heating and renewable energy solutions, was acquired by Arbonia in 2018.
Midea says it plans to continue to invest in the Climate Division’s existing sites, employees, and R&D capabilities. “These brands are therefore to remain in the future and be further expanded,” it said.
The Midea Group also includes Clivet, the Italian air conditioning manufacturer acquired in 2016.
“The combination of Clivet Group with the Climate Division will create a European leader for climate solutions,” said in a statement. “The combined group will develop sustainable and innovative solutions for home comfort and energy efficiency and thus drive forward the sustainable energy transition in the building sector. The combined group will benefit from a complementary product portfolio, an existing dealer and installer network, supply chain efficiencies as well as a strategic alliance with Midea Group.”
