LU-VE completes AL Air deal


07 May 2019
LU-VE has completed the 67.1 euro purchase of the air heat exchanger division of Alfa Laval (AL Air). The agreement to acquire the company was announced in December last year. 
AL Air is a manufacturer of commercial and industrial coolers, mainly for the industrial cooling and industrial refrigeration markets. In 2018, AL Air had sales of 108.1 million euros, EBITDA of 10.3 million euros and EBIT of 9.1 million euros. 

The acquisition of Vicenza-based AL Air also includes premises in Italy, Finland and India, with a commercial organisation throughout the world, as well as brands including Fincoil and Helpman. It also includes the transfer of more than 400 employees mainly based at the production sites. 

LU-VE president Iginio Liberali said: “This acquisition is the largest ever concluded by LU-VE Group. Thanks to it, the group is now amongst the three largest global operators in the sector and the second in Europe. The acquisition is part of our strategic design of growth and qualification. This acquisition also has the sense of maintaining in Italy the research and manufacturing of the most advanced products, in terms of the application of ‘green’ refrigerants, energy savings and respect for the environment.”
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