Midea Set to Acquire Arbonia's HVAC Business

Switzerland: The EUR 760 million acquisition of the Climate Division of Arbonia, a Swiss firm that comprises the HVAC companies Sabiana, Termovent, and Tecna, has been agreed to by Midea.

Following a statement by Arbonia at the end of February that it had received multiple “unsolicited expressions of interest” in buying its HVAC businesses, the transaction was made through Midea subsidiary Midea Electrics Netherlands BV.

The heating system brands Kermi, Prolux, and Vasco, as well as the focused brands Arbonia, Britec, Brugman, Cicsa, PZP, Solius, Superia, Tecna, and Termovent, are all part of Arbonia's Climate Division in addition to Sabiana.

Four locations in Milan's Corbetta and Magenta neighbourhoods are home to Sabiana's operations. It produces and distributes a variety of goods, such as heat recovery units, fan coils, evaporative coolers, and air handling systems.

Source: Climate Control News