Viessmann to acquire US company KPS Global
14th August 2024
GERMANY/USA: The Viessmann Generations Group has signed an agreement to acquire US-based insulated panel systems manufacturer KPS Global LLC.
The Viessmann Generations Group is the umbrella body for the German manufacturer’s remaining businesses following the sale of its Climate Solutions interests to Carrier last year.
Viessmann sees the acquisition as “an important strategic expansion step” for the Group’s clean and cold platform into the North American market.
Headquartered in Fort Worth, Texas, KPS Global is a market leading end-to-end solutions provider in custom enclosures for controlled environments, with an extensive value chain coverage across design, engineering, self-performed installation and after-services.
Since December 2015, KPS Global has been a privately-held by D Cubed Group and certain other investors, having been created through D Cubed’s simultaneous acquisition of businesses from both Dover Corporation and The Manitowoc Company Inc.
Viessmann CEO Max Viessmann described the KPS acquisition as “a perfect match, a strong addition to our ecosystem”.
KPS Global employs over 850 people and boasts a US-wide footprint. The company operates five production facilities with a total of 750,000ft2 of manufacturing space. Viessmann says that these operations will continue as normal.
KPS offers a broad range of walk-in solutions and services for cold chain and non-refrigerated environments across the food, retail and scientific market among others. In addition, the company provides a wide variety of replacement equipment and aftermarket parts, including doors and door parts, strip curtains, batten strips, sweeps and more.
The company caters to large, non-cyclical end markets across food retail, scientific and cold storage. In recent years, the company has also accelerated growth in the area of non-food retail applications, gaining customers in pharmaceuticals, blood banks, agriculture and battery dry rooms amongst others.
In 2023, Viessmann took its first step into the North American market through the acquisition of BMIL Technologies. BMIL is based in Morehead City, North Carolina (USA) and operates as a leading system integrator, supplying cold rooms and refrigeration equipment for industrial and commercial refrigeration applications.
The transaction remains subject to customary closing conditions and is expected to close in the next 90 days.
