Subscribe to the daily news Sign in
En
CAREL has been signed for the acquisition of 51% of CFM Soğutma ve Otomasyon A.Ş.

CAREL has been signed for the acquisition of 51% of CFM Soğutma ve Otomasyon A.Ş.

In line with the key growth drivers that have been guiding CAREL’s commercial strategies for many years, the Group announces that yesterday a binding agreement has been signed for the acquisition of 51% of CFM Soğutma ve Otomasyon A.Ş.

CFM is a long-standing distributor and partner in Turkey as well as a provider of digital and on-field services and complete high added value solutions dedicated to OEMs, contractors and end users in the Turkish HVAC/R market.

The acquisition will allow CAREL to establish a direct presence in the important Turkish market and to have a solid platform at the service of the development of the Middle East. Moreover, this agreement enables the company to leverage the distinctive business model of CFM, characterised by a wide range of complementary services, and to further develop its potential in synergy with its hardware, IoT and thermodynamic competences.

Francesco Nalini and Murat Cem Özdemir, respectively CAREL Group CEO and General Manager of CFM jointly commented: "We are delighted with this strengthening of our partnership that has lasted successfully for many years. The agreement signed today represents an important step in the development strategy of both companies."

Closing, (expected by the end of July 2021) is subject to obtaining the approval for the transaction from the local antitrust authorities and other conditions precedent that are characteristic of this type of agreement.
Related tags: HVAC
Share

Related news

CAREL appoints new managing directors for SENVA Inc. and CFM
CAREL has announced new leadership appointments at its Group companies SENVA Inc. and CFM. Effective 1 May 2025, Roberto Sandano has become Managing Director of SENVA Inc., while Maurizio Penne...
07 Jun 2025
CAREL Releases White Paper on Indoor Air Quality in Buildings
New publication outlines IAQ standards, health risks, and control strategies. CAREL has published a new white paper titled “Indoor air quality - Guaranteeing health and comfort in buil...
20 Apr 2025
CAREL receives UL certification for A2L-ready control components
CAREL has obtained UL LZGH2/8 certification for several product lines designed for use with mildly flammable refrigerants. The certified ranges include pCO (pCO5+), c.pCO (c.pCO and c.pCO mini), c....
13 Jun 2025
CAREL integrates Redfish protocol into data centre solutions
CAREL Group has announced that its data centre solutions, including the boss range and the boss one board for programmable controllers, are now compatible with the Redfish protocol. Developed b...
03 Jun 2025
Maurizio Marchesini confirmed as Assoclima President for 2025–2027 ...
The General Assembly of Assoclima – Costruttori Sistemi di Climatizzazione, part of Anima Confindustria, has reappointed Maurizio Marchesini as President of the Association for the 2025–2027 term. ...
30 Jun 2025
ECOOLTEC names Holger Dörre as CTO to advance sustainable refrigera...
ECOOLTEC Grosskopf GmbH has appointed Holger Dörre as Chief Technology Officer (CTO), effective July 2025. The mechanical engineer brings extensive experience in transport refrigeration and HVAC te...
today