Samsung buys air conditioning specialist FläktGroup for 1.5 billion euros

Samsung is taking over the German air conditioning specialist FläktGroup. This was announced by the South Korean company on Wednesday. According to Samsung, the takeover is to be completed this year. It is the company's largest acquisition in eight years.

With this investment, Samsung aims to strengthen its position in the fast-growing air conditioning market, according to the company's announcement. Samsung is referring to studies that predict annual growth of eight percent over the next five years, and even 18 percent in the data center air conditioning segment. According to these studies, the air conditioning market will grow from 61 billion US dollars (54 billion euros) in 2024 to 99 billion US dollars (88 billion euros) in 2030.

New opportunities

According to Samsung, the data center segment in particular is associated with high entry barriers for air conditioning suppliers, as it requires global delivery experience and optimal, customer-tailored solutions. FläktGroup's liquid and air cooling solutions for data centers are market-leading and enable energy-saving operation for its customers, explains Samsung.

FläktGroup is an international manufacturer of air conditioning, air and filter technology with headquarters in Herne, Germany. However, the company's customers include not only data center operators, but also pharmaceutical and biotech companies, food and beverage manufacturers and large battery factories, Samsung writes in its announcement.

The acquisition further expands Samsung's air conditioning business. In May last year, the company established a joint venture with Lennox International to strengthen its position in the North American air conditioning market. The announcement comes at a time when Samsung is facing major challenges in the semiconductor, television and smartphone sectors.

(dahe)