Carel Group Acquires Entire Share Capital of Recuperator S.P.A., A Company Active in The Field of Heat Exchangers
Brugine (PD), 29 November 2018 – Carel Industries S.p.A. announced that the acquisition of the entire share capital of Recuperator S.p.A., an Italian company active in the design, production and consumption of "air-to-air" heat exchangers has been completed.
The operation is related to the implementation of one of the main pillars of the Group's strategy, which envisages targeted growth through M&A activities, also through complementary products in reference applications, in order to strengthen its core business.
Integration with Recuperator S.p.A. in fact, will expand the product portfolio on offer in the HVAC market, consolidating CAREL's role as a supplier of complete solutions to manufacturers of air handling units, providing them with ever better solutions in terms of performance and energy efficiency. The combination of the technology used by the company involved in the transaction with CAREL’s technology and its widespread sales network will help strengthen the Group's European leadership in its market niches and to achieve major technological and commercial synergies. Furthermore, the regulatory context in which the operation has been completed is particularly important and favourable. Indeed, EU Regulation no. 1253/2014 (so-called Ecodesign) provides for the mandatory presence of a heat exchanger for some categories of non-residential air handling units.
Francesco Nalini, Chief Executive Officer of the Group, said: "The transaction completed today is an expression of a particularly important strategic direction, that of growth through M&A, to which CAREL is paying and will continue to pay particular attention over the coming quarters. The integration with dynamic, cutting edge and complementary companies with respect to our business will be an accelerator of development that will be accompanied by organic growth, the latter based on the characteristics that have always distinguished us: innovation, energy efficiency and customer care."
Paola De Troia
Media Relations Manager
+39 049 9731 899
Investor Relations Manager
+39 049 9731961
CAREL is one of the world leaders in control solutions for air-conditioning, refrigeration and heating, and systems for humidification and evaporative cooling. Our products are designed to bring energy savings and reduce the environmental impact of equipment and systems. Our solutions are used in commercial, industrial and residential applications. CAREL has 22 fully-owned subsidiaries and 7 production sites, as well as partners and distributors in a further 75 countries.
For further information, go to www.carel.com