Yanmar Energy System has entered into an agreement with Jet Investment to acquire cogeneration solutions provider, TEDOM Group.
The share purchase agreement (SPA) was signed last week and once the transaction is completed TEDOM will become part of Yanmar Group.
TEDOM Group is a leading global manufacturer of cogeneration units and a provider of comprehensive solutions, maintenance and service for decentralised energy systems.
The company also offers a range of energy services including power generation, power balancing, electricity and gas sales, and ESG consulting.
With around 1,000 employees and operations in the Czech Republic, Germany, Poland, Slovakia, the United States, the United Kingdom, and Kazakhstan, TEDOM Group is expected to generate approximately EUR 315 million in revenue in 2024.
Yanmar Energy System International CEO, Peter Aarsen, said this strategic move brings together TEDOM’s expertise in cogeneration and energy services with Yanmar’s global reach and innovative technologies.
“The strengths of both companies complement each other, creating a strong foundation for future growth. We remain committed to upholding the high standards and values that TEDOM and Yanmar are renowned for,” he said.
This alignment is expected to strengthen Yanmar's position in the energy sector and support sustainable growth. Both companies are enthusiastic about collaborating to deliver innovative solutions and increased value to customers worldwide.
The announcement follows an announcement last month that Panasonic and Yanmar Energy Systems have formed a joint venture to develop and manufacture gas engine heat pump (GHP) air conditioners.
The proposed company – Panasonic Yanmar GHP Development and Manufacturing Co Ltd – will be 51% owned by Panasonic Holdings and 49% by Yanmar Energy Systems with its headquarters in Gunma Prefecture.
The gas engine heat pump is a commercial air conditioner that uses a gas engine to drive a compressor. There are claims it can be up to 11 times more efficient than an electric heat pump.