Bosch Thermotechnology has reached an agreement to acquire MTA Spa, the Italian manufacturer of heating, ventilation and air conditioning (HVAC) systems.
MTA, whose main operations are located in the area of Padua, Italy, develops, produces and sells commercial and industrial cooling systems with a focus on chiller and heat pump technology.
The company employs some 400 people and also has six sales subsidiaries in Germany, France, Spain, Romania, the US and Australia.
Bosch, which refused to disclose the financial details of the transaction, said MTA’s highly efficient cooling systems will allow the company to expand its commercial and industrial technology portfolio in the air conditioning business, particularly in Europe.
“We will thus strengthen Bosch’s market position as a supplier of industrial and commercial systems,” said Uwe Glock, President of the Board of Management of the Thermotechnology Division.
“We are very well positioned in the segment for heating boilers with high output ratings and combined heat and power units. Together with MTA, we will now take another important step towards becoming the first full-range supplier of heating and airconditioning solutions.”
Mario Mantegazza, CEO and Co-Founder of MTA said the transaction will bring the company’s high technology and applications expertise as well as its high quality reputation to a powerful group.
“The future organisation will be well placed to provide the best solutions for every specific need,” Mr Mantegazza added.
“We will take advantage of both strong cultures to develop new innovative products.”
According to Bosch’s media statement, the transaction is subject to the approval of the antitrust authorities.