Ariston Group to welcome CENTROTEC Climate Systems in its largest deal to date
19 九月 2022
Ariston Holding N.V., a global leader in sustainable solutions for thermal comfort, with ordinary shares listed on Euronext Milan, will acquire CENTROTEC Climate Systems GmbH. This is the largest acquisition of the Ariston Group to date.Via its renowned brands Wolf, Brink, Pro-Klima and Ned Air, CENTROTEC Climate Systems is a leading player in the supply of heating, ventilation, air-handling and combined heat & power solutions. CENTROTEC has around 2,500 employees and an established presence in Germany, the Netherlands and solid exposure to many other European markets.
The transaction will entail the in-kind contribution to Ariston Holding N.V. of the entire shareholding in CENTROTEC Climate Systems in consideration of the subscription by CENTROTEC SE of 41,416,667 Ariston Holding N.V.’s ordinary shares and a cash-out by Ariston Holding N.V. of €703 million (on a cash and debt-free basis).
Closing of the transaction is subject to customary conditions precedent, such as approval of the relevant competition authorities, and is envisaged to be consummated by 31 December 2022.
Houthoff advised Ariston Holding N.V on the proposed acquisition of CENTROTEC Climate Systems together with Pedersoli Studio Legale (Italy) and Clifford Chance (Germany). The team included Michiel Pannekoek, Jetty Tukker, Philippe König, Jessica den Dekker, Saskia Hoek, Daniël Stuijt, Ralph de Kruijf, Gerrit Oosterhuis, Jori de Goffau and Anouk Boutens.
Ariston Group | Ariston to welcome CENTROTEC Climate Systems into the Group in largest deal to date, increasing the focus on premium sustainable solutions