Samsung Electronics Co., Ltd. has signed an agreement to acquire FläktGroup from funds advised by Triton for €1.5 billion (enterprise value €1.8 billion). The transaction is subject to customary regulatory approvals and is expected to close within 2025.
FläktGroup was established in October 2016 through the merger of DencoHappel, part of the Galapagos group under Triton Fund IV, and FläktWoods. Headquartered in Herne, Germany, the company provides energy-efficient ventilation and precision-cooling systems for data centers, healthcare facilities, airports, museums, and other high-demand environments.
FläktGroup’s data center solutions include liquid and air cooling products designed to reduce energy use and support lower carbon footprints. The company has reported strong revenue growth in this segment over the past three years. In 2023, it received the DCS Cooling Innovation of the Year Award.
Trevor Young, CEO of FläktGroup, stated: “We would like to thank the Triton team for their valuable support and cooperation throughout their investment. We look forward to partnering with Samsung to extend FläktGroup’s leadership and deliver even greater value to our customers.”
Samsung has been expanding its HVAC business, focusing on ductless systems for residential and commercial markets. In May 2024, the company formed a joint venture with Lennox International Inc. to strengthen its presence in the North American market.
TM Roh, Acting Head of the Device eXperience Division at Samsung Electronics, commented: “Through the acquisition of FläktGroup, an applied HVAC specialist, Samsung Electronics has laid the foundation to become a leader in the global HVAC business, offering a full range of solutions to our customers.”