Swegon AB has continued on its expansion path with an agreement to acquire Walter Meier’s German wholesale subsidiary Klima Deutschland.
Walter Meier (Klima Deutschland) GmbH is a subsidiary to the Swiss Walter Meier Group. The company has its headquarters in Munich and was founded in 1930 and has been part of Walter Meier Group since 1991.
The company employs 111 staff and reported a turnover of approximately EUR 37 million in 2012. The acquisition is subject to approval by antitrust authorities and closing is expected in June.
Swegon CEO, Hannu Saastamoinen, said: “This is a very important acquisition for us”.
“We have a very good relationship with Walter Meier Klima today as they are our largest independent distributor in the chiller segment. They fit very well in to our expansion strategy in the cooling business and we are now looking forward to develop our cooperation further and continue to grow in Germany which is one of our prioritised markets.”
The move into Germany mirros the plan that Swegon recently revealed for the UK, flollowing its acquisition of Coolmation.
It wants Coolmation to become a ‘total solutions’ provider, with the UK company used as a distribution channel for the Swedish manufacturer’s cooling and ventilation products free to view, simply register
Speaking to RAC at the ISH show in Frankfurt, Swegon CEO Hannu Saastamoinen said: “Coolmation provides us with an established value added chain and secures Swegon a line of distribution into the UK.
“We were drawn to the company’s established expertise in selling, installing, servicing and chiller hire, areas that we believe have potential to grow.
“Furthermore, as the cooling sector is more technically complex than ventilation, we needed a focused team that would be able to work with the Swegon product and apply our strategy to advance the company.”
“We plan to expand the cooling business in two ways. Firstly, in combination with the ventilation offering, as we can sell chillers alongside our more traditional ventilation products. And secondly, by looking at the cooling side as a more independent business for industrial and A/C applications.”
Swegon also plans to distribute chillers supplied by Italian company Blue Box, which it acquired in 2010 for e50 million, through Coolmation. Mr Saastamoinen stressed that the foundations for moving Coolmation forward would be built around providing a high level of customer service to cement long term relations.
“We see customer satisfaction as vital to the company’s progress. It is important to have that connection, where you can provide not just a one-off service, but a total solutions package, backed by in-depth knowledge.”