Investment AB Latour acquires, through its wholly owned business area Swegon, all shares in Econdition GmbH in Germany.
Econdition is a leading distributor of data center and industrial cooling solutions. With headquarters in Munich the company employs 40 staff and reported a turnover of approximately 14 MEUR in 2013. The acquisition is subject to approval by antitrust authorities and closing is expected during August.
The acquisition of Econdition is in line with Swegons strategy of strengthening its presence on the German market and will increase Swegons sales within cooling and especially in the growing segment of data center cooling.
“Along with last years’ acquisition of Walter Meier (Klima Deutschland) GmbH, Econdition adds on to our already solid platform in Germany and at the same time brings us one step closer to our end customers”, says Hannu Saastamoinen, CEO of Swegon.
Göteborg, August 1, 2014
Investment AB Latour (publ)
Jan Svensson, CEO
For further information please contact:
Hannu Saastamoinen, CEO Swegon, +46 31 89 58 10
Andreas Örje Wellstam, VP BA Residential and M&A Swegon +46 31 89 58 17
Swegon AB is a company in the Latour group and manufactures and sells products and solutions for ventilation and indoor climate systems. The Swegon company group has 1,700 employees and the turnover SEK 3,3 billion.
Investment AB Latour is a mixed investment company consisting of an investment portfolio with a market value of about SEK 27 billion and wholly owned industrial operations with total net sales of above SEK 7 billion.