Denmark-based heating and cooling solutions provider Danfoss announced March 1 that it has completed its acquisition of German compressor manufacturer BOCK GmhH from NORD Holding GmbH. Danfoss first announced its intention to acquire BOCK in October 2022.
Terms of the transaction were not disclosed.
Danfoss describes BOCK as a world leader in CO2 and low-GWP compressors and said the deal reinforces Danfoss’ position as a destination for greener cooling and heating solutions. It comes roughly three years after the company’s landmark $3.3 billion acquisition of Eaton’s Hydraulics business in January 2020.
Founded in 1932, BOCK and its 400 employees officially became part of the Danfoss portfolio on March 1.
“BOCK’s renowned CO2 and low-GWP semi-hermetic reciprocating compressors and condensing units expand Danfoss’ position as a full-service provider for greener cooling and heating solutions from products and solutions to components and support — all backed by a global presence,” Danfoss news release stated. “The brands’ shared commitment to innovation, expertise and support will help fast-track decarbonized cold chain and heating systems worldwide.”
A month earlier on Feb. 7, Danfoss announced the construction of a new compressor and sensor production plant in Apodaca, Mexico amid what the company said is “tremendous growth in demand for cooling technology from the U.S. market.” The facility will produce medium and large scroll compressors, pressure sensors for HVAC/R, and A2L leak detection sensors for residential and commercial air conditioning and refrigeration.
The facility is expected to be ready by the end of 2024, starting with a capacity for 100,000 compressor units, 1.6 million pressure sensors, and 1 million A2L leak detection sensors.