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Carel Group acquires entire share capital of Recuperator SpA

29 November 2018

Carel Industries SpA announced that the acquisition of the entire share capital of Recuperator SpA, 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 SpA 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."

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