Rite-Hite Expands European HVAC Business with KE Fibertec Acquisition

Rite-Hite Expands European HVAC Business with KE Fibertec Acquisition

DENMARK: Milwaukee-based industrial and loading dock manufacturer Rite-Hite has acquired Danish textile ventilation specialist KE Fibertec Group, strengthening its presence in Europe’s fabric HVAC solutions market. The financial terms of the deal were not disclosed. KE Fibertec employs around 160 people across eight subsidiaries in Denmark, the Czech Republic and the United States, including four production facilities. The acquisition adds expertise and capabilities to Rite-Hite’s existing DuctSox textile HVAC business. KE Fibertec, which has been owned by Jysk-Fynsk Kapital A/S since 2007, had been seeking a buyer amid a business transition. The company will continue operating from its existing facilities following the acquisition.

Source: Milwaukee Journal Sentinel