International. Carel Industries confirmed the acquisition of a company specialized in the manufacture of products for heat recovery in ventilation and humidification systems, adiabatic cooling and air purification, Klingenburg GmbH and Klingenburg International.
These companies have approximately 200 employees, and have two production plants, one in Germany and one in Poland. They also have a direct commercial presence in the United Kingdom, Spain and the United States. Aggregate revenue as of December 31, 2021 amounted to €39.1 million, with EBITDA of €2.4 million and net EBITDA of €4.8 million.
This transaction is related, first of all, to the implementation of one of the main bases of the Carel Group's strategy, which advocates growth through mergers and acquisitions, also in terms of complementary products in reference applications. On the other hand, its objective is also to strengthen Carel's position in the air treatment unit market, adding to the acquisitions of Recuperator S.p.A. and Enginia S.r.l., in 2018 and 2021 respectively, and which respond to the same logic.
Recuperator and Klingenburg will complement each other in relation to the respective specialization technologies (Recuperator in plate exchangers and Klingenburg in rotary) and application areas, which will allow Carel to develop industrial and commercial synergies that will result in occupying a first-level role in this sector, both in Europe and abroad, while confirming its ability to become a single supplier of complete air handling unit systems.
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