Madison Air Solutions said on Monday it would acquire German ventilation technology group ebm-papst in a deal valued at US$5.4 billion, expanding its air quality and ventilation solutions business.
The deal will see ebm-papst’s three shareholder families transfer their stakes to Madison Air, which is seeking to strengthen its position in Europe and broaden its technology portfolio.
Ebm-papst, a major supplier of fans, motors and ventilation systems for air conditioning and refrigeration, will benefit from Madison Air’s presence in the United States and operational expertise, it said in a statement.
For Madison, the acquisition provides access to ebm-papst’s technology, engineering capabilities and customer base, particularly in Europe and Asia, allowing it to expand beyond its core North American market.
Ebm-papst will retain its headquarters in Mulfingen, southern Germany, as well as key research, development and production operations, it said.
(Reporting by Apratim Sarkar; Writing by Friederike Heine, Editing by Anil D’Silva and Linda Pasquini)
