CAREL signed a binding agreement for the acquisition of 100% of Eurotec

Date: 21 February 2023
CAREL signed a binding agreement for the acquisition of 100% of Eurotec
CAREL Industries S.p.A. (“CAREL” or the “Group”) announces that a binding agreement was signed for the acquisition of 100% of the share capital of Eurotec, a distributor and system integrator based in Auckland in New Zealand with revenues of approximately NZD 10.9 million (approximately EUR 6 million).

Founded in 1986 and a long-time commercial partner of CAREL, Eurotec is structured into three business units: HVAC, Refrigeration and Electrical/Instrumentation, all also characterised by a significant content in terms of dedicated services. The presence in the area is guaranteed by three branches: in addition to the Auckland headquarters, there are operational offices in Wellington and Christchurch.

The transaction is part of a long tradition of consolidating the Group's presence in the geographical areas of reference through the acquisition (and development) of a direct sales force, in line with CAREL sales processes and its long term with a significant share of its Customers.

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