Samsung to buy FläktGroup for €1.5bn
14th May 2025
GERMANY: Korean manufacturer Samsung Electronics is set to acquire all the shares of FläktGroup from investment company Triton for €1.5bn.
The deal, equivalent to an enterprise value of €1.8bn, is subject to customary regulatory approvals and closing conditions and is expected to close this year.
Under Triton’s ownership, the company has been transformed into a European market leader in air technology with a broad portfolio of HVAC products.
“Through the acquisition of FläktGroup, a central HVAC specialist, Samsung Electronics has laid the foundation to become a leader in the global HVAC business, offering a full range of solutions to our customers. Our commitment is to continue investing in and developing the high-growth HVAC business as a key future growth engine,” said TM Roh, Samsung Electronics’ acting head of the device experience division.
Headquartered in Herne, Germany, FläktGroup boasts annual sales of more than €700m and employs roughly 3,300 people across 14 production sites, with operations spanning 65 countries worldwide.
The company was formed in 2016 following the acquisition of FläktWoods and its merger with air conditioning company DencoHappel.
DencoHappel had previously been part of GEA’s heat exchanger interests which Triton acquired in 2014. Other parts of the GEA heat exchanger business, including Searle, Goedhart and Kuba, were renamed Kelvion in 2015. In February of this year it was rumoured that Triton was considering a sale of Kelvion.
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