28 November 2018

Carel Group acquires Recuperator

Carel Industries' acquisition of the entire share capital of Recuperator SpA, an Italian company specialising in the design, production and consumption of air-to-air heat exchangers, has been completed.

The acquisition is in line with Carel Group’s strategy to achieve targeted growth through merger and acquisition activities, and through complementary products in reference applications, in order to strengthen its core business.

Integration with Recuperator will expand the product portfolio on offer in the HVAC market, consolidating Carel’s role as a supplier of complete solutions to manufacturers of air handling units.

The combination of Recuperator’s technology with that of Carel’s, in addition to its widespread sales network, is expected to strengthen the Group’s European leadership in its market niches and achieve major technological and commercial synergies.

The regulatory context in which the operation has been completed is particularly notable and favourable. EU Regulation 1253/2014 (the Ecodesign Directive) provides for the mandatory presence of a heat exchanger for some categories of non-residential air handling units.

Francesco Nalini, chief executive of Carel Group, said: “The transaction completed today is an expression of a particularly important strategic direction – that of growth through mergers and acquisitions – to which Carel is paying and will continue to pay particular attention over the coming quarters. The integration with dynamic, cutting edge and complementary companies with respect to our business will be an accelerator of development that will be accompanied by organic growth, the latter based on the characteristics that have always distinguished us: innovation, energy efficiency and customer care.”

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