Company’s decision to obtain and integrate humidifier specialist’s operations is the latest in a series of recent acquisitions it has made
Carel Industries has announced it has acquired major Germany-based humidifier manufacturer HygroMatik in order to expand its position in Northern Europe.
HygroMatik produces humidifiers and other associated accessories for industrial and commercial functions.
Carel said in a statement that the decision to purchase the entire share capital of the group formed part of a strategy to expand its core operations through mergers and acquisitions in a number of sectors and geographical locations it sees as important markets.
The company added that the integration of HygroMatik’s operations would help consolidate its position in German-speaking companies and northern Europe for more specialised products in the field of humidification.
Carel stated that it hoped to realise further growth for the brand based on its own market experiences over the last 45 years.
Francesco Nalini, chief executive of Carel, said the latest move followed the acquisition last month of air-to-air heat exchanger specialist Recuperator. Nalini said that both acquisitions highlighted the importance of M&A in driving key developments in the coming years.
He said, “The integration with HygroMatik, one of the most dynamic and innovative companies in the sector, will allow the group to improve its positioning on the German and Northern European markets, strengthening its European leadership in reference applications.”