Samsung Electronics has announced its agreement to acquire all shares of FlêktGroup, a German-based provider of heating and cooling solutions, for 1.5 billion euros (approximately $1.7 billion). The acquisition is expected to be finalized in the first half of next year, pending regulatory approvals.
About FlêktGroup
FlêktGroup specializes in supplying heating and HVAC solutions to a variety of buildings and facilities, including:
- Data centers that require stable cooling conditions
- Commercial real estate
- Offices
- Schools
- Hospitals
- Hotels
- Shopping malls
The demand for data centers is projected to grow sustainably due to advancements in technologies such as generative AI, robotics, and autonomous driving.
Strategic Importance
TM Roh, the acting head of Samsung’s Device eXperience (DX) division, emphasized the company’s commitment to investing in the high-growth HVAC business as a key future growth engine.
Samsung’s Expansion Strategy
Samsung Electronics, one of South Korea’s largest companies by revenue and market value, has been diversifying its operations beyond smartphones since its inception over five decades ago. Recent expansions include:
- Electric Vehicles: Through its subsidiary Harman International Industries Inc., which acquired audio equipment maker Bang & Olufsen A/S for $850 million last year.
- Home Appliances: The acquisition of U.S.-based GE Appliances from General Electric Co. for $8 billion in 2016.
Financial Details
While Samsung has not disclosed the specific amount it will invest in FlêktGroup or the percentage stake it will hold post-acquisition, the deal marks a significant step in its growth strategy.
Company Background
FlêktGroup was founded in 1999 by two engineers from Siemens AG. The company operates globally with over 2,000 employees across Europe and the Asia-Pacific regions. Its product offerings include:
- Air handling units for ventilation systems
- Heat exchangers for outdoor air conditioning systems
Market Insights
According to research firm Statista, global spending on data center construction reached $134 billion last year, up from $83 billion five years prior. The firm forecasts that spending will approach $170 billion this year.
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