On Wednesday, Samsung Electronics said that it will pay European investment company Triton 1.5 billion euros ($1.68 billion) to purchase all of the shares of FläktGroup, a well-known producer of heating and cooling systems with headquarters in Germany. Samsung claimed that the acquisition will enable it to build its operations in the rapidly expanding heating, ventilation, and air conditioning sector.
TM Roh, Acting Head of Samsung Electronics’ Device eXperience (DX) Division, stated, “We are committed to continuing to invest in and develop the high-growth HVAC business as a key future growth engine. Samsung’s position against competitors like LG Electronics in the HVAC sector might be strengthened with the acquisition of FläktGroup.
Data centres, which need a high level of steady cooling, are among the many buildings and facilities that FläktGroup provides heating and HVAC solutions to. As generative AI, robots, autonomous driving, and other technologies proliferate, Samsung said it expects data centre demand to continue growing.
According to Samsung, FläktGroup has over 60 significant clients, including gigafactories, biotech, food and beverage industries, and top pharmaceutical companies. In March, Samsung announced that it had double-digit yearly revenue growth over the previous five years for its HVAC solutions and that it wanted to increase revenue by over 30% by 2025.
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