Viessmann Refrigeration Solutions strengthens growth trajectory with strategic partnerships

Cleanroom project (B.Braun Melsungen)

- Further development creates the best conditions for more reach, industrial size, and profitable growth
- Joint Venture: Viessmann Refrigeration Solutions and Epta S.p.A. will jointly become a leading provider of commercial refrigeration technology in Central and Northern Europe
- International Expansion: Acquisition of BMIL Technologies strengthens business around cleanroom and cooling cell solutions from Viessmann Refrigeration Solutions in North America

Viessmann Refrigeration Solutions ("VRS") announced today that it will strengthen its growth trajectory and market position through two new strategic partnerships.

To this end, VRS is combining its commercial refrigeration technology, produced in Porvoo (Finland), with the business of Epta S.p.A ("Epta") in a joint venture. The merger is subject to approval by the relevant antitrust authorities. Epta is a globally operating company specializing in commercial refrigeration technology. The newly founded joint venture includes the manufacturing of refrigerated cabinets, turnkey complete solutions, and related services. The goal is to create a leading provider of commercial cooling solutions in Central and Northern Europe.

At the same time, VRS is expanding its activities in cleanroom and cooling cell solutions with production in Hof (Germany) through the acquisition of North American system integrator BMIL Technologies LLC ("BMIL"). With this transaction, Viessmann enters the growing North American market for cooling cells and cleanroom solutions for the first time.

Leading solution provider for commercial refrigeration technology in Europe

VRS and Epta will merge their respective activities in Central and Northern Europe into a joint venture. Both companies will consolidate their business activities around commercial refrigeration technology in selected markets to expand their profitable growth in a competitive market.

Epta, a family-owned company based in Milan (Italy) and European market leader for commercial refrigeration in the retail food sector, will combine its activities in Germany, Poland, Denmark, Finland, and Norway with those of VRS in Germany, Poland, Denmark, Finland, Norway, Sweden, Czech Republic, Slovakia, Estonia, Latvia, and Lithuania. Through this merger, both companies will create a leading solutions provider of relevant industrial size and dimension with a total turnover of over 400 million euros and more than 1,600 employees in the region.

Customers of both companies will benefit from a broader range of leading cooling solutions and a comprehensive, integrated service offering.

Marco Nocivelli, Chairman of the Board and CEO of Epta: "Our partnership is the beginning of a joint journey and a long-term cooperation that will strengthen our position in Central and Northern Europe. Our know-how in commercial refrigeration technology is unique, and we share similar values as a family business. The new Epta-led joint venture is another step on our path to solidify our status as a global player in this sector, thanks to increased production capacity and a strengthened international presence. Against the backdrop of ecological and digital transformation, creating connections and improving network logic are fundamental for a sustainable future!"

Frank Winters, CEO of Viessmann Refrigeration Solutions: "Epta and Viessmann Refrigeration Solutions both aim for sustainable solutions with a positive contribution to our planet. Through this partnership, we combine the best of both worlds: technologically leading, efficient energy solutions with industrial size and scale advantages. Together, we create added value for our customers, our employees, and future generations."

The joint venture with Epta exclusively covers the business around VRS's commercial refrigeration technology; its activities around cleanroom and cooling cell solutions are excluded. The VRS production site in Hof (Germany), the associated sales companies, and Viessmann Technologies will remain fully within the Viessmann Group.

The Epta business activities in Western and Southern Europe, the Middle East, Latin America, the USA, as well as the Asia-Pacific and Oceania regions are not affected by the joint venture agreement.

Cleanroom and cooling cell solutions from VRS expand their global presence with acquisition in North America

The activities of VRS around cleanroom and cooling cell solutions will be further strengthened in the future. With the acquisition of a majority stake in BMIL Technologies, VRS is entering the North American market for the first time. BMIL is based in Morehead City, North Carolina (USA), and is a leading provider of system integration solutions for cold rooms and cooling systems. With this acquisition, Viessmann accelerates the transition to cooling and cleanroom solutions using natural refrigerants in the North American market.

Frank Winters, CEO of Viessmann Refrigeration Solutions: "The acquisition of BMIL aligns with our long-term sustainability goals and our strategy to strengthen the cleanroom and cooling cell business. We see high growth potential in the North American market, where the transition to technologies based on natural refrigerants will accelerate. We look forward to leveraging these growth opportunities to increase our positive impact, especially in the sectors of gastronomy, high-tech, and industry."

The cooling cell and cleanroom business of VRS includes all related sales companies across Europe, as well as Viessmann Technologies and the manufacturing company Viessmann Cooling Systems, both based in Hof (Germany). Viessmann Cooling Systems is one of the largest manufacturers of modular cooling cells in Europe. The Viessmann Group was founded over 100 years ago by Johann Viessmann in Hof. Since then, Hof has been an integral part of the Viessmann family tradition.

The acquisition of BMIL strengthens the Viessmann ecosystem and fits into a series of international partnerships for cleanroom and cooling cell solutions with selected companies – including, for example, Priva, a Dutch specialist in building automation and vertical farming, or Intarcon, a leading Spanish manufacturer of cooling systems with a focus on energy efficiency and natural refrigerants. The Viessmann Group aims to shape living spaces for future generations and to build an ecosystem of leading companies focused on CO2 avoidance, reduction, and storage.