Press release -
Swegon Group AB acquires leading provider of radiant ceilings
Swegon Group AB acquires Zent-Frenger GmbH from the Uponor Group
Zent-Frenger is a leading provider of radiant ceilings in Germany and in addition develops and sells customized commercial heat pumps and concrete activation products.
Zent-Frenger's products are used to create a comfortable indoor climate in commercial buildings such as offices and hotels, as well as residential apartment buildings.
The company develops and assembles its products in Heppenheim, Germany. The company employs ~100 staff with a turnover in 2017 of 29 MEUR.
“As the Indoor Climate Company, radiant ceilings is a natural addition to our room unit product portfolio. It is a growing product segment in Continental Europe, due to its high comfort characteristics”, says Hannu Saastamoinen, CEO of Swegon. ”Zent-Frenger’s highly customized heat pumps is also a strong complement to our existing commercial heat pump offering. Overall, there are numerous synergies we look forward to pursuing together. This acquisition also substantially strengthens our market presence in Germany, being one of the focused growth markets for Swegon”
“Swegon and Zent-Frenger is a very good match with a shared focus of delivering optimal indoor climate to commercial buildings. We look forward to continued development of the Zent-Frenger business as part of Swegon Group”, says Andreas Lingner, Managing Director of Zent-Frenger.
The acquisition is subject to approval by antitrust authorities and closing is expected during October.
For further information please contact:
Hannu Saastamoinen, CEO, +46 31 89 58 10
Gustaf Ahlenius, Director Corporate Development, +46 31 89 58 19
Topics
- Environment, Energy
Categories
- ventilation
- indoor climate
Swegon Group AB is part of the Latour group, listed on the Swedish stock market and is the market leader within energy efficient ventilation and indoor climate systems. Through the Swegon Group sales subsidiaries and partners Swegon supplies products and systems that create good indoor climate and highly contributes to saving energy.
Swegon has 14 production plants in Sweden, Finland, Italy, India, North Amercia, Germany, Belgium and the United Kingdom. The company employs 2 200 staff and the turnover is approximately 4380 MSEK.
