The Carel Group Acquires Hygromatik
BRUGINE, Italy — Carel Industries SpA announced its acquisition of the entire share capital of HygroMatik GmbH, part of the group Spirax Sarco Engineering PLC. The company is based in Henstedt-Ulzburg, Germany, near Hamburg. It designs, produces, and markets humidifiers and related accessories in the industrial, commercial, and wellness field.
The transaction is an implementation of one of the main pillars of The Carel Group's strategy, which envisages a growth path through mergers and acquisitions aiming to strengthen its core business, increasing market share in the reference geographical areas and in contiguous applications.
Integration with HygroMatik will consolidate Carel's positioning in German-speaking countries and in northern Europe, thanks to the strong penetration of the acquired company in these markets, and will allow for a better positioning in the context of different applications, leveraging the strength of the brand, the industrial excellence, and specialized expertise in the field of humidification of one of the main players in the sector. Carel will add the contribution of the exclusive technological, strategic, and commercial know-how that it has developed during its 45 years in business and that will be the basis for exploiting further growth opportunities.
"The HygroMatik GmbH transaction follows the acquisition of Recuperator SpA completed in November and confirms Carel's focus on M&A activity as a strategic lever, which, together with organic growth, will be a driver of our development in the coming years," said Francesco Nalini, Group CEO. "In particular, the integration with HygroMatik, one of the most dynamic and innovative companies in the sector, will allow the Group to improve its positioning on the German and Northern European markets, strengthening its European leadership in reference applications."
Publication date: 12/4/2018