Trane set to acquire German company AL-KO30th August 2022
IRELAND: Trane Technologies has signed an agreement in principle to purchase AL-KO Air Technology, a division of AL-KO SE, based in Jettingen-Scheppach, Germany.
AL-KO Air Technology designs, manufactures, sells and services a full line of air handling units and extraction systems for a broad range of applications in diverse markets, such as pharmaceutical, healthcare, industrial processes, retail, recreation and commercial buildings.
It is said that AL-KO Air will bring complementary, high-performing solutions to the Trane commercial HVAC product and services portfolios in Europe and Asia.
“We’re very excited about this agreement with AL-KO Air Technology,” said Jose La Loggia, president of Trane Commercial HVAC in EMEA. “With a reputation for sustainable solutions, innovation, and quality, AL-KO Air Technology will be a natural extension of our robust commercial HVAC platforms in Europe and Asia, and our focus on healthy and efficient buildings.”
Approximately 800 AL-KO Air Technology employees in Europe and China will join the Trane Technologies teams once the transaction closes. AL-KO Air Technology’s three manufacturing sites ─ in Jettingen-Scheppach and Wittenberg, Germany and Taicang, China ─ will become part of Trane Technologies, along with its sales offices in Europe and Asia.
The transaction is expected to close by the end of the year. Until then, Trane Technologies and AL-KO Air Technology will continue to operate as two separate companies and conduct business as usual.