Carel Industries has acquired 100% of the issued share capital in Germany’s Klingenburg and Poland-based Klingenburg International, strengthening the Italian company’s positioning in the market for air handling units and furthering its growth trajectory through M&A.
Carel manufacturers control systems for air conditioning, refrigeration and heating, and systems for humidification and evaporative cooling.
The Klingenburg businesses are producers of a wide range of products used mainly for heat recovery in ventilation and humidification systems, adiabatic cooling and air purification. Specifically, they specialise 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,’ stated Carel. The benefits of their technology are also cited for various industrial processes, such as humidification and the treatment of air through UV technology.
The transaction rationale is attributable, first, to the implementation of one of the main cornerstones of Carel’s strategy – a growth path through M&A, as well as products complementary in ‘applications of reference’. Furthermore, these acquisitions strengthen Carel’s position in air handling units, and build on the previous acquisitions of Recuperator and Enginia, completed in 2018 and 2021, respectively. Specifically of note is the complementary nature of Recuperator and Klingenburg in relation to the respective technologies of specialisation – plate exchangers at Recuperator and rotary for Klingenburg. This then bleeds into the application areas where Carel can develop industrial and commercial synergies.
For Klingenburg, it will benefit from an improved competitive positioning and investment capability, in addition to access to 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 possibility of producing in the US.
Carel Group CEO Francesco Nalini explained, ‘The transaction completed today confirms once again the ability of the group to pursue its growth objectives through M&A with coherence and timeliness. Specifically, it represents an additional step forward towards the enrichment of the product range geared to the industry of air handling units, as well as the completion of the technologies offered in the area of heat exchangers, already partially covered with the Recuperator acquisition in 2018.
‘Therefore, the company continually presents itself as a supplier of complete control solutions with high added value in the conditioning and refrigeration industry, with energy efficiency as one of their main characteristics.’
