Bosch buys expensive Heating and Cooling business from USCompany
Worldwide, sustainable solutions are in demand for hot and cold days. Bosch also wants to take a leading position in the business of heating, ventilation, and climate control systems. With the largest acquisition in Bosch history, the turnover of this division will double.
Bosch is equipping itself with a billion-dollar acquisition for the growing business of heating and climate control systems. According to the Stuttgart concern, it is acquiring Johnson Controls' Heating, Ventilation, and Air Conditioning (HVAC) business for approximately 7.4 billion Euros. This also includes the 100% acquisition of Johnson Controls-Hitachi Air Conditioning (JCH), Johnson Controls' joint venture with Hitachi. Bosch is expanding its position in the climate control and heating pump sector, it is stated.
This is the largest acquisition in Bosch history. The company is strengthening its heating business, Bosch Home Comfort, whose core is the former Buderus in Wetzlar. The acquired business generated approximately four billion Euros in revenue last year. Bosch Home Comfort is growing to nine billion Euros in revenue with this acquisition.
"As the largest acquisition in Bosch corporate history, this is an important milestone in the consistent implementation of our Strategy 2030," says Bosch CEO Stefan Hartung in a statement. The company will achieve a leading market position in the heating, ventilation, and climate control market. "With this step, we are also strengthening our presence in the USA and Asia and achieving a more balanced portfolio of our business sectors."
The acquired businesses employ around 12,000 employees worldwide. The transaction includes 16 production sites and 12 development sites in more than 30 countries. The integrated unit at Bosch is expected to have a total of more than 26,000 employees. The acquisition is expected to be completed in approximately one year.
Bosch's acquisition of Johnson Controls' HVAC business will significantly contribute to its growth in the economy-driven sector of heating and climate control systems. With this takeover, Bosch Home Comfort divulges plans to double its revenue, potentially leading Bosch to a prominent role in 'Takeovers and Mergers' relating to heating solutions.
The merger of Bosch and Johnson Controls' HVAC businesses will allow for advancements in heating technologies, stimulating opportunities in the economy and potentially reshaping the 'Takeovers and Mergers' landscape in the climate control field.
