03. July 2024
Zehnder Group from the canton of Aargau in Switzerland is expanding its business with residential ventilation systems in Spain and Portugal. The international company, which focuses on indoor climate solutions, is obtaining broader access to both these markets through its acquisition of Spanish company Siber. Siber’s headquarters, factory and innovation center are located in Les Franqueses del Vallès near Barcelona, while its logistical center is based in Madrid.
According to an ad hoc press release, the transaction was financed with existing credit lines and liquid funds. It is expected to close in the next few weeks. Siber is anticipating sales of around €37 million for financial year 2024, and an EBIT margin on a par with the Zehnder Group’s ventilation segment.
According to Zehnder Group, the acquisition represents a “unique opportunity”, because Siber’s attractive product portfolio is ideally suited to the needs of customers in southern Europe and covers the mid-price segment. “This will help Zehnder Group to strengthen its growth in Spain, Portugal, as well as other southern European countries”.
Matthias Huenerwadel, CEO of Zehnder Group, describes the acquisition of Siber as “another milestone in the targeted expansion of our regional residential ventilation business. The complementary nature of customers and products, together with regional strength and a strong capacity for innovation, make Zehnder and Siber a perfectly complementary combination.” ce/mm