LG Electronics Acquires Water Heating Company OSO to Expand HVAC Portfolio

LG Acquires Water Heating Company OSO to Expand HVAC Portfolio

Norway: LG Electronics has signed an agreement to acquire a 100 percent stake in OSO, a Norway-based company that supplies water heating solutions. The acquisition is part of LG’s strategy to strengthen its heating, ventilation and air conditioning (HVAC) business, particularly in Europe. OSO’s product range includes electric water heaters and thermal storage systems for heat pumps and boilers. The European water heating and hot water solutions market is valued at approximately USD 15 billion. Following the acquisition, OSO will continue to operate independently, maintain existing OEM partnerships, and explore new growth avenues while leveraging LG’s global network. 

The integration of OSO’s stainless steel-based hot water technologies with LG’s air-to-water heat pump systems is expected to enhance LG’s position in the European HVAC sector. LG plans to combine its research and development capabilities with OSO’s manufacturing expertise, aiming to offer integrated HVAC and water heating packages. The acquisition aligns with LG’s “3B Strategy”—Build, Borrow, Buy—aimed at expanding its cleantech and B2B operations through internal growth, partnerships, and strategic acquisitions. 

Source: LG