Helsinki, Finland, 2016-01-20 09:00 CET (GLOBE NEWSWIRE) -- CAVERION CORPORATION INVESTOR NEWS 20.1.2016 AT 10.00 AM EET
Caverion acquires the business of Arneg Kühlmöbel, one of the leading suppliers of cooling technology in Austria
Caverion has signed an agreement with Mr Alfred Lotter on the purchase of the business of Arneg Kühlmöbel u. Ladeneinrichtungen, Produktions- u. Handelsgesellschaft mbH (“Arneg Kühlmöbel”). The transaction was approved by the Austrian Federal Competition Authority on January 19, 2016. The acquisition supports Caverion’s growth strategy and expands on its position within the cooling technology market in Austria. The purchase price is not disclosed.
Arneg Kühlmöbel is one of the leading suppliers of cooling technology in Austria. In 2014, the revenue of Arneg Kühlmöbel was about EUR 7.0 million. The company employs about 35 people in the city of Leonding in Upper Austria.
“With this step Caverion broadens its regional position in offering cooling technology throughout planning, installation, service and maintenance. Our comprehensive and nationwide competence will be further strengthened by our new experts in cooling technology,” says Manfred Simmet , Senior Vice President & CEO, Division Austria of Caverion.
Caverion is currently one of the largest players in the building solutions market in Austria. In 2014, Caverion’s revenue in Austria amounted to EUR 136 million. After the acquisition, Caverion employs about 800 people in Austria.
“With Caverion, Arneg Kühlmöbel will be part of a well-established company for building solutions and in particular cooling technology in Austria. After my retirement in 2016, I know the company I established will be in good hands with sustainable prospects for the Leonding area,” says Alfred Lotter , the founding partner and Managing Director of Arneg Kühlmöbel.
The acquisition will not change the earlier communicated outlook for Caverion Group.
For more information, please contact: Manfred Simmet, Senior Vice President & CEO, Division Austria, tel: +43 5060 2410, manfred.simmet@caverion.at
Caverion designs, builds, operates and maintains user-friendly and energy-efficient technical solutions for buildings, industries and infrastructure. Our services and solutions are used in commercial and residential buildings and on industrial and public-sector properties, as well as in processes, ensuring business continuity, safety, healthy and pleasant surroundings, optimal performance and cost management. Our vision is to be a leading European provider of advanced and sustainable life cycle solutions for buildings and industries. Our strengths include technological expertise and comprehensive services, covering all technical disciplines throughout the entire life cycles of properties and industrial plants. Our revenue in 2014 was approximately EUR 2.4 billion. Caverion has about 17,000 employees in 12 countries in Northern, Central and Eastern Europe. Caverion’s shares are listed on NASDAQ Helsinki. www.caverion.com
