The Midea Group has completed its acquisition of ARBONIA climate, a division of ARBONIA AG, for an enterprise value of $US790.5 million (760 million euros).
This powerhouse collaboration will significantly strengthen Midea’s strategic deployment across Europe.
Together with Clivet S.p.A., which was acquired by Midea in 2016, the group of companies have formed a new alliance MBT Climate.
By integrating their strengths and diverse product offerings, this partnership will offer more comprehensive and efficient product solutions for users.
The new management lineup includes Stefano Bellò, president of MBT Climate, while Kobe Peng has been appointed vice president and Alexander Kaiss is senior VP.
ARBONIA climate, which employs more than 3,000 people, develops and manufactures products and systems for sustainable heating and cooling generation, heating and cooling distribution, energy storage, ventilation and air treatment.
It includes the system brands KERMI, PROLUX, SABIANA and VASCO as well as the focused brands arbonia, Britec, Brugman, Cicsa, PZP, Solius, Superia, Tecna and Termovent.
Midea Group has been listed in the Fortune Global 500 for nine consecutive years. Its business spans over 200 countries and regions, with 33 R&D centres, and 43 major manufacturing bases globally.
This partnership underscores Midea’s determination to expand its global footprint. Leveraging ARBONIA climate’s and Clivet’s deep market presence and diverse product offerings in Europe, along with Midea’s strong technological capabilities and continuous R&D investment, MBT Climate will be well-positioned to respond swiftly to market demands.
The alliance aims to develop products and solutions tailored to local needs.