Baker McKenzie advised Trane Technologies, a global climate innovator, on the acquisition of AL-KO Air Technology, a division of AL-KO SE, based in Jettingen-Scheppach, Germany, effective November 1, 2022. With its sustainable solutions for air handling units, AL-KO Air Technology is an ideal extension of Trane Technologies' commercial platforms in Europe and Asia.
With the closing of the transaction, approximately 800 AL-KO Air Technology employees in Europe and China joined the Trane Technologies team. AL-KO Air Technology’s three manufacturing sites - in Jettingen-Scheppach and Wittenberg, Germany and Taicang, China - are now part of Trane Technologies, along with its sales offices in Europe and Asia.
"The acquisition of AL-KO Air Technology is a perfect extension of our client's robust HVAC platforms in Europe and Asia. Together, the commitment to sustainable innovation, operational excellence and outstanding customer service will further be strengthened," commented Florian Kästle, lead partner of the transaction.
Trane Technologies is a global climate innovator (www.tranetechnologies.com). With its strategic brands Trane® and Thermo King®, and its portfolio of environmentally responsible products and services, the company brings efficient and sustainable climate solutions to buildings, homes and transportation.
AL-KO Air Technology designs, manufactures, sells and services a full line of sustainable air handling units and extraction systems for a broad range of applications in diverse markets, such as pharmaceutical, healthcare, industrial processes, retail, recreation, and commercial buildings. AL-KO Air will bring complementary, high-performing air handling, extraction and ventilation solutions to the comprehensive Trane® Commercial HVAC product and services portfolios in Europe and Asia.
Baker McKenzie's Corporate/M&A team regularly advises on domestic and international transactions. Most recently, Baker McKenzie advised, among others, Pacoma on the sale to L&P, Deutsche Beteiligungs AG (DBAG) on its investment in vhf Group, VINCI Energies S.A. on the acquisition of parts of Kontron AG, AURELIUS on the acquisition of AGFA Offset Solutions and of Footasylum from JD Sports, FUNKE Digital on the acquisition of Baseplus DIGITAL MEDIA GmbH, Knorr-Bremse AG on the sale of its stake in Haldex AB to SAF-Holland SE, Siemens on the sale of its Commercial Vehicles business to Meritor, Kerry Group plc on the acquisition of c-LEcta, Celanese on the acquisition of DuPont's Mobility & Materials business and Sika AG on the acquisition of the MBCC Group.
Legal advisor to Trane Technologies:
Baker McKenzie
Lead:
Corporate/M&A: Florian Kästle (partner, Frankfurt), Andrea Ziegler (partner, Frankfurt)
Team:
Corporate/M&A: Felix Werner (associate, Frankfurt), Zhenyu Ruan (Partner, Shanghai), Lei Ye (senior counsel, Shanghai), Julien Wang (associate, Shanghai), Xi Chen (associate, Shanghai), Zimeng Cai (Associate, Shanghai), Kimberley Bloemhard (associate, Amsterdam), Hein Blaauwendraad (associate, Amsterdam)
Antitrust: Fiona Carlin (partner, Brussels), Lisa Weinert (associate, Brussels)
Banking & Finance: Oliver Socher (partner, Frankfurt), Philipp Thimm (associate, Frankfurt)
Commercial: Johannes Teichmann (partner, Frankfurt), Rebecca Romig (associate, Frankfurt), Joost Lichtendahl (associate, Amsterdam)
Employment/Pension: Christian Reichel (partner, Frankfurt), Felix Diehl (senior associate, Frankfurt), Zheng Lu (partner, Shanghai), Chelsea Liang (associate, Shanghai), Roderick Beudeker (legal director, Amsterdam), Pauline Bakker (senior associate, Amsterdam), Jonathan Steinvoort (associate, Amsterdam)
IP: Rembert Niebel (partner, Frankfurt), Anela Kapetanidis (associate, Frankfurt)
IT: Holger Lutz (partner, Frankfurt), Nadine Neumeier (counsel, Frankfurt), Tobias Born (senior associate, Frankfurt), Anika Vornwald (senior associate, Frankfurt), Susanna Milne (associate, Berlin)
Public Law: Ulrich Ellinghaus (partner, Frankfurt), Andreas Neumann (senior associate, Frankfurt), Anahita Thoms (partner, Berlin), Alexander Ehrle (associate, Berlin)
Real Estate: Niklas Wielandt (partner, Frankfurt), Jeneka Manoharan (associate, Frankfurt), Paul Goedvolk (partner, Amsterdam), Edo Berghuis (associate, Amsterdam)
Tax: Christoph Becker (partner, Frankfurt), Thomas Gierath (partner, Munich), Ariane Schaaf (counsel, Frankfurt), Viktoria Ritter (associate, Munich)