Swegon buys German company Econdition
1st August 2014SWEDEN: Air conditioning and ventilation company Swegon has acquired German data centre cooling company Econdition.
With headquarters in Munich, Econdition employs 40 staff and reported a turnover of approximately €14m in 2013. The acquisition is subject to approval by antitrust authorities and closing is expected during August.
“Along with last years’ acquisition of Walter Meier (Klima Deutschland) GmbH, Econdition adds on to our already solid platform in Germany and at the same time brings us one step closer to our end customers”, said Hannu Saastamoinen, CEO of Swegon.
Markus Schmitz of Econdition added “The acquisition by Swegon is an outstanding and important step for our company. As a partner for data centre and industrial cooling solutions we remain a specialised company, but are integrated in the Group. This has significant long-term benefits such as close cooperation in product development, market development, etc.”
Swegon is a company within the Swedish Latour Group. It operates as a global specialist in the production of ventilation and air conditioning systems as well as in services and control systems. The Swegon group employs 1,650 employees and has an annual turnover of €360m.
