Baker McKenzie Switzerland, in cooperation with other Baker McKenzie offices, has advised building supplier Arbonia, on the competitive sale process with several bidders of its climate division, for an enterprise value of EUR 760 million, to Midea Electrics Netherlands B.V., a company of Midea Group.
Arbonia’s climate division develops and manufactures products and systems for sustainable heat and cold generation, heat storage, cold distribution, ventilation and air filtration. In 2023, Arbonia’s climate division recorded net revenues of CHF 576.6m, employed over 3’000 employees and managed, besides international sales offices, eight specialized production sites plus five development competence centres throughout Europe.
Subject to the relevant regulatory authorities’ approval, up to CHF 400 million of the proceeds from the sale are to be returned to shareholders after the transaction has been completed. In addition, part of the net proceeds from the sale will be used to strengthen Arbonia’s door business and another part to reduce debt. The door business will be strategically and substantially developed organically and through acquisitions with the aim of making Arbonia a European market leader for doors made of wood and glass.
Baker McKenzie advised Arbonia on all legal aspects of the transaction. The team was led by Zurich-based M&A partners Alexander Fischer (pictured left) and Alexander Blaeser (pictured right).
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