Noerr advises Swedish investor Latour on acquisition of air handling unit manufacturer Howatherm

With a team led by Holger Alfes and Evelin Moini, Noerr has advised the Swedish Investment AB Latour, through its wholly-owned business area Swegon – a market leading supplier in the field of indoor environment – on a strategic acquisition of the German company Howatherm Klimatechnik GmbH.

Howatherm is a family-owned manufacturer of modular air handling units primarily to the German market, and with a subsidiary in Luxemburg for sales in the Benelux region. With this acquisition, Swegon strengthen its position on the German HVAC market, the largest market for air handling units in Europe. Together with the recent acquisitions of Samp in northern Italy and Dalair in the UK&I, both focusing on modular air handling units, Swegon now has a strong coverage of the European market. Swegon is a global company with subsidiaries in and distributors all over the world and 21 production plants in Europe, North America and India.

The acquisition is subject to approval by antitrust authorities and closing is expected during January 2025.

Noerr advises Swegon regularly on their transactions in Germany.

Advisors to Swegon: Noerr

Lead: Holger Alfes (partner), Evelin Moini (senior associate, both Corporate/M&A, Frankfurt)

Corporate/M&A: Dominik Rompza (partner, Berlin), Selina Brose (senior associate, Frankfurt)

Employment law: Johannes Allmendinger (associated partner), Daniela Reinhardt (associate, both Frankfurt)

Data, Tech & Telecoms: Julian Monschke (associated partner), Andreas Scheibenpflug (associate, both Frankfurt)

IP: Valentin Schmidt (senior associate), Katja Steinthaler (senior associate, both Munich)

Antitrust: Fabian Badtke (partner, Frankfurt), Sven Betzendörfer (associate, Brussels), Lucie Maja Schultz (associate, Frankfurt)

Real Estate: Tim Behrens (partner), Philipp König (senior associate, both Frankfurt)

Tax: Andre Happel (partner, Frankfurt), Tim Löper (associated partner, Munich)