Carel Industries has signed a binding agreement for the acquisition of its New Zealand distributor Eurotec.
Carel has acquired 100 per cent of the share capital of Eurotec, a distributor and system integrator based in Auckland.
Eurotec has revenues of approximately NZD 10.9 million.
Founded in 1986 and a long-time commercial partner of Carel, Eurotec is structured into three business units: HVAC, refrigeration and electrical/instrumentation.
In addition to the Auckland headquarters, there are operational offices in Wellington and Christchurch.