Daikin acquires AHT for €881m (approx. 114.5 billion YEN)

Daikin Industries Ltd acquires Austria’s AHT Cooling Systems for €881m (approx. 114.5 billion YEN)

by Gerhard Fasol

World’s largest air-conditioning equipment maker expands to Europe

On Monday 26 November 2018 Daikin Industries Ltd announced the planned acquisition of AHT Cooling Systems for €881m (approx. 100 billion YEN).

Daikin Industries Ltd [TYO:6367], slogan: “The Future in Your Hand”

Daikin Industries Ltd was founded in 1924 as Osaka Kinzoku Kogpyosho LP by Akira Yamada in Osaka.
1963 the name was changed to Daikin Kogyo Co Ltd, and
in 1982 the name was changed to Daikin Industries Ltd.

AHT Cooling Systems GmbH

AHT is an abbreviation for Austria Haustechnik (Austrian home technologies), and its headquarters are in Rottenmann (Steiermark, Austria). AHT produces refrigerators and freezers, 60% of sales are refrigerators and freezers for super markets. German discount supermarket giants Aldi and Lidl are among AHT’s customers.

In 1998 AHT listed with an IPO on the Vienna Stock Exchange.
In 2003, AHT was fully acquired by Quadriga Capital for € 35 Million and delisted.
Quadriga sold AHT to Germany Investment Firm Equita.
In 2006, Quadriga acquired AHT back from Equita, and in Mai 2013 was reported to seek selling AHT for at least € 450 Million.

Annual sales:
€ 222.7 Million (2011)
€ 380 Million (2015)

Employees: 1250 (global)
CEO: Thomas Babacan
COO: Frank Elsen

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