Global building products manufacturer Johnson Controls announced Jan. 13 its acquisition of Hybrid Energy AS, a manufacturer of heat pumps based in Lysaker, Norway. Financial terms of the transaction were not disclosed.
MDM’s M&A Virtual Summit, to be held Feb. 21-22, has something to offer for any distributor on the dealmaking spectrum. We’ll cover the current state of M&A; how to maximize valuation; integration do’s and don’ts; ESOPs; the culture side of the M&A process; and more. Get details and register here.
Founded in 2004, Hybrid Energy AS is a provider of high-temperature energy management solutions specializing in heat pumps for district heating and industrial processes. Hybrid Energy’s technology will deliver cost-effective solutions while addressing decarbonization and sustainability efforts in Europe and beyond, according to a news release.
“It’s an exciting time in our industry as we come together to bring the next generation of safe, sustainable energy management technologies to market,” Claude Allain, president of Johnson Controls HVAC/R and data centers, said. “Hybrid Energy is well positioned in its ability to deliver extremely high-temperature process heating while maintaining energy efficiency – and with the reach and resources of Johnson Controls, we will be able to solve the challenges of more customers. As we help reduce the energy consumption in buildings, our customers will benefit from a single, trusted source for heating solutions.”
Hybrid Energy’s solutions can achieve temperatures greater than 100 degrees Celsius using ultra-low-global warming potential natural refrigerants, the release said. Solutions such as those of Hybrid Energy will help the European Union reduce greenhouse gas emissions 55% by 2030 and achieve the Green Deal of being climate neutral by 2050, according to Nordic Technology Group AS CEO Rune Rinnan.
“With many countries diversifying energy sources, now is the time for clean energy technologies to become available for use on a global scale,” Rinnan said. “Between Hybrid Energy’s unique heat pump technologies, the reach and capability of Johnson Controls and the collective brain power from both, we’ll help advance a sustainable future by setting the standard for high-temperature industrial heat pumps.”
See MDM’s Investment Bank Directory for a rundown of the key investment banks and advisory firms in the distribution sector.
Related Posts
-
Winchester Industrial Controls designs, engineers, and integrates controls systems and software for warehouse automation applications.
-
The London-based water treatment and sustainability provider finalized a deal to acquire Manitowoc Ice from…
-
The expansion includes a new 10,000 square foot, state-of-the-art production area for UV-curable acrylic pressure…