Manufacturers of heat pumps are experiencing a golden age. However, because powerful competitors are pushing into the European market, a well-known family company is looking for a strong partner.
According to media reports, the north Hessian manufacturer Viessmann wants to sell its heat pump division to the US group Carrier Global in the middle of the climate change. The plan is to take over the climate solutions division, which accounts for around 85 percent of sales at the family company and is valued at around eleven billion euros. The Wall Street Journal and Handelsblatt, among others, report on the transaction, which has not yet been completed. A company spokesman declined to comment on Tuesday.
Viessmann is one of the winners of climate change
With around 14,500 employees, Viessmann has so far been one of the winners of the climate change, particularly in the building sector. For 2022, the company had reported a 19 percent increase in sales of 4 billion euros. The decisive driver was the dynamic growth in heat pumps, which should quickly replace conventional heating systems. In May 2022, Viessmann announced investments of around one billion euros in this area. Among other things, a new factory is being built in Poland.
With the now envisaged partial sale for shares and cash, the regionally positioned family business would be absorbed into the Carrier group and gain significantly greater financial strength. Faster growth would be possible, it was said in business circles. Ultimately, in global competition, at some point only size and quantity count. The company’s headquarters are said to remain in Allendorf an der Eder.
The Viessmann founding family recently withdrew from operational management of the climate solutions division and concentrated on managing the Viessmann group of companies. This also includes refrigeration solutions, investments, real estate and foundations and a digital division, all of which should not be affected by the planned sale.
Source: Stern
