CAREL acquires 100% of the share capital of Klingenburg GmbH and Klingenburg International Sp. Z.o.o.
Gladbeck, September 09, 2022
CAREL Industries S.p.A. (“CAREL” or the “Group”) announces that the acquisition of 100% of the share capital of Klingenburg GmbH (and its subsidiaries) and Klingenburg International Sp. Z.o.o. (“Klingenburg” or the“Klingenburg Group”), leading producers of a wide range of products used mainly for heat recovery in ventilation and humidification systems, adiabatic cooling and air purification, was completed on September 02, 2022.
The Klingenburg Group, founded in 1979, is the European leader in the production and sale of rotary and plate heat exchangers, essential elements in the recovery of heat and therefore in guaranteeing significant energy savings in ventilation systems. Inparticular, the main advantages of rotary technology, making up most of Klingenburg’s business (and for which also benefit from product and production process patents), are associated with the ability to treat large amounts of air while maintaining compactness and high efficiency of the component. They are used in multiple applications: in addition to being used in air handling units in residential and commercial buildings, the rotary heat exchangers are widely used in various industrial processes.
Klingenburg also offers solutions for humidification (mainly for indirect adiabatic cooling) and the sanification of the air through UV technology. The sale of services in support of product solutions offered is also significant.
The effects of the transaction also reflect positively on Klingenburg, who will benefit from an improved competitive positioning and investment capability not achievable earlier, in addition to a particularly advanced technological know-how. To this, the global footprint of the CAREL Group is added, as well as its extensive customer base, which will open new markets and new geographies with the creation of significant cross-selling opportunities. In particular, the possibility of producing in the United States would allow for an easier North American market penetration for Klingenburg products, especially suited for local market needs.
Rolf F Oberhaus, CEO Klingenburg GmbH, commented: “We are proud to be part of the large Carel family with this acquisition and firmly believe that the Klingenburg Group has reached an important milestone to continue to be a reliable partner for its customers and suppliers. Furthermore, we will be able to implement investments faster than before and participate in Carel‘s outstanding R&D programme. A good day for Klingenburg!”