Page 13 - Climate Control News magazine March 2022

World News
LU-VE Group sell off
SYSTEMAIR HAS ACQUIRED 80 per cent of the Italian company Tecnair LV S.p.A. from LU-VE Group, listed on the Milan Stock Exchange, and the remaining 20 per cent from the Monti family.
Tecnair is an international supplier of indoor close control air conditioning units. The prod- ucts are delivered to hospitals and data centres.
“TECNAIR COMPLEMENTS SYSTEMAIR IN MULTIPLE AREAS.”
The Italian market accounts for about 25 per- cent of Tecnair's sales and the rest is exported mainly within Europe.
Tecnair specialises in the manufacture of precision cooling products for healthcare applications such as intensive care units, operating theatres, laboratories and data centre applications.
Tecnair is located in Uboldo outside Milan but will relocate to Systemair's existing premises in
Systemair president & CEO, Roland Kasper
Barlassina 15 km from Uboldo. Tecnair's sales in 2021 amounted to $US13.47 million with an EBITDA result of $US1.34 million.
The company has 43 employees. The transac- tion requires approval from the Italian authori- ties and completion is estimated for the end of March 2022.
The agreed purchase price amounts to $US16.8 million on a debt-free basis.
Systemair president & CEO, Roland Kasper, said Tecnair complements Systemair in mul- tiple areas.
“Tecnair's product range and market presence fits Systemair's product offering well,” he said.
“At the same time, Systemair signs a long- term supply agreement with LU-VE for the sup- ply of heat exchanger coils. We also see good synergies by coordinating production, product development and sales of Tecnair with our exist- ing facility in Barlassina.
“Through the acquisition we get a stronger mar- ket position and good synergies in the field of air conditioning products in the European market.”
LU-VE factory in Italy.
A-Gas acquires FUSO Japan
A-GAS HAS ACQUIRED the assets and business of Japanese company FUSO.
The company provides reclamation and re- frigerant destruction services on a national basis in Japan through a network of regional offices and key processing sites near Tokyo.
FUSO also has a long standing and lead- ing presence in the gas detector market in Japan. This transaction transfers the FUSO gas reclamation, destruction and gas detec- tion operations into the existing A-Gas busi- ness in Japan.
A-Gas CEO, Jack Govers, said the acquisi- tion is an exciting expansion of its global busi- ness and it strengthens the company’s pres- ence in Asia.
“We are delighted to be able to expand and offer the services we have developed success- fully in other global regions to our existing and new customers in Japan,” Govers said.
“We can now offer full lifecycle manage- ment of refrigerant in Japan from supply, re- covery, reclamation and destruction. We also believe that the market leading gas detection equipment that FUSO has supplied histori- cally can be utilised in our existing business on a global basis.”
A-Gas Japan managing director, Ken Takise, said A-Gas has demonstrated its ability to expand into new markets through acquisition.
He said the Japanese market has been a long term growth target for A-Gas given the focus on environmental regulation and the high levels of recovery and reclamation of re- frigerant gas.
“We are delighted to acquire a long-stand- ing business in Japan to accelerate our plans in the region,” Takise said.
“We welcome the FUSO employees – as well as the loyal customers of FUSO to A- Gas – and look forward to offering our full services to them in the future as part of the A-Gas Group.”
A-Gas CEO, Jack Govers
CLIMATE CONTROL NEWS
MARCH 2022
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