Client
Transaction
Acquisition of 95% of sharesTarget company
Date
2016Transaction advisory to LU-VE S.p.A. - the company operating in the HVAC industry (Heating, Ventilation, Air Conditioning)
Lu-Ve acquired 95% of Spirotech. The acquisition of Spirotech would allow LU-VE group to use the existing business and operations of Spirotech as a platform to rapidly expand its business in India and nearby countries.
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Company information
LU-VE is one of the main European producers of heat exchangers and ventilated products for the refrigeration, air conditioning and industrial process cooling markets.
Target information
Spirotech is an Indian company with its manufacturing facility in Rajasthan, about 60 km south of New Delhi. It produces technologically advanced heat exchangers coils (copper/aluminium and aluminium/aluminium) with more than 70% of revenues from export customers having end applications in domestic appliances, air conditioning and refrigeration.