Subscribe to the daily news Sign in
En
LU-VE Finalizes The Closing Of The Acquisition Of Air Heat Exchanger Division Of Alfa Laval

LU-VE Finalizes The Closing Of The Acquisition Of Air Heat Exchanger Division Of Alfa Laval

LU-VE Spa (BIT: LUVE), announced today the completion of its previously disclosed agreement to purchase the air heat exchanger division of Alfa Laval (“AL Air”). The agreement to acquire the company was announced on 12 December 2018. 

The purchase price is € 67.1 million – debt and cash free – and subject to review of 2018 EBITDA and customary post-closing adjustments.AL Air is a leading manufacturer of commercial and industrial coolers, primarily for the industrial cooling and industrial refrigeration markets. In 2018, AL Air had sales of € 108.1 million, EBITDA of € 10,3 million and EBIT of € 9.1 million.

At closing 65% of the purchase price was paid. 15% of the purchase price will be paid by30 April 2020 and the remaining 20% within 12 months from closing, based on EBITDA 2019.

The acquisition of AL Air (headquartered in Alonte, Vicenza) includes the premises in Italy, Finland and India, with a commercial organization throughout the world, as well as recognized historical brand names such as Fincoil and Helpman. The acquisition includes also the transfer of more than 400 employees mainly based at the production sites. The employees will continue their employment in the LU-VE Group as per the closing date.

The President of LU-VE Iginio Liberali declared: "This acquisition is the largest ever concluded by LU-VE Group. Thanks to it, the Group is now amongst the three largest global operators in the sector and the second in Europe. The acquisition is part of our strategic design of growth and qualification. This acquisition also has the sense of maintaining in Italy the research and manufacturing of the most advanced products, in terms of the application of ‘green’ refrigerants, energy savings and respect for the environment".

On 6 May (3:30 p.m.), the CEO of LU-VE Group, Dr. Matteo Liberali, will present the acquisition during a conference call.
Share

Related news

CCR unveils new brand identity after separation from Carrier
CCR Commercial Refrigeration, formerly known as Carrier Commercial Refrigeration, has introduced a new brand identity following its acquisition by Haier. The rebranding includes a refreshed logo, u...
06 Jun 2025
AREA and World Refrigeration Day sign MoU to promote cooling awareness
AREA and World Refrigeration Day signed a Memorandum of Understanding during the 21st European Conference on the Latest Technologies in Air Conditioning and Refrigeration, organized by Centro Studi...
16 Jun 2025
Danfoss and Microsoft expand AI collaboration to cut food waste and...
Danfoss and Microsoft have announced an expanded partnership aimed at accelerating the use of artificial intelligence and cloud-based technologies in food retail. The collaboration will focus o...
28 Mar 2025
Trane Technologies Acquires Marshall Fleet Solutions to Strengthen ...
Trane Technologies, through its Thermo King brand, has acquired Marshall Thermo King Ltd., trading as Marshall Fleet Solutions. The acquisition, effective March 31, 2025, brings one of the UK’s...
02 Apr 2025
Leonardo Cozac assumes ABRAVA presidency for 2025–2028 term
The new ABRAVA 360 board has officially taken leadership of the Brazilian Association of Refrigeration, Air Conditioning, Ventilation and Heating (ABRAVA) for the 2025–2028 term. The inaugurati...
12 Jun 2025
Alfa Laval Reports Record Growth in 2024 with Strong Demand for Ref...
Alfa Laval has published its 2024 Annual and Sustainability Report, highlighting a year of record performance driven by strong demand for sustainable technologies across its core sectors, including...
03 Apr 2025