Arbonia AG

  • ISIN: CH0110240600
  • Land: Schweiz

Nachricht vom 30.04.2021 | 07:00

Arbonia acquires Serbian manufacturer of ventilation units

Arbonia AG / Key word(s): Takeover

30-Apr-2021 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

Arbon, 30 April 2021 - As part of its HVAC growth strategy, Arbonia has signed a purchase agreement for a 100% share in Termovent Komerc d.o.o. (Termovent). For the HVAC Division, the acquisition of this established Serbian manufacturer of commercial ventilation units geographically expands its integrated ventilation system range into Eastern Europe and extends its expertise in the area of indoor air quality, especially cleanrooms, throughout Europe.

The acquisition of Termovent allows Arbonia not only to expand its product portfolio in the area of air handling units and indoor air quality but also to substantially increase its expertise in production, R&D, and sales in the growing segment of commercial and industrial ventilation systems as well as cleanroom technology.

The sector of commercial and industrial ventilation systems offers the division a significant growth potential. On the one hand, the COVID-19 pandemic is making indoor air quality an increasingly important issue worldwide, especially in medical, pharmaceutical, commercial, and public buildings. On the other hand, the demand for industrial cleanroom systems is also increasing, especially due to the rapidly growing demand for and production of semiconductors, which require absolutely dirt- and dust-free working conditions. Termovent specialises in the planning and manufacturing of customised ventilation units and is particularly distinguished by its cleanroom expertise, especially in the following sectors: hospitals, the chemical industry, and the pharmaceutical industry. 

The headquarters of Termovent is located in Belgrade (RS), and the production site is around 250 kilometres away in Kladovo (RS), near the border with Romania. Arbonia is taking over all employment relationships of the management as well as those of the approximately 190 employees, in order to ensure that long-standing customer relationships with existing contact persons and ongoing, already contracted, as well as future projects are continued smoothly. The two current managing directors of the family-run company will also remain available to the HVAC Division with their expertise and will help to advance the integration into Arbonia.

Termovent achieved revenue of approximately EUR 15 million with an attractive EBITDA margin in the 2020 financial year. The company value of the underlying transaction corresponds to an EV/EBITDA multiple of approx. 7x. The signing took place on 29 April 2021, and the closing is planned immediately after approval is granted by the Serbian authority.

Fabienne Zürcher
Head Corporate Communications & Investor Relations
T +41 71 447 45 54

End of ad hoc announcement

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