Latour acquires HC Groep
Investment AB Latour has, through its wholly-owned subsidiary Swegon Group AB, signed an agreement to acquire HC Groep. Closing is expected to take place in August 2024. HC Groep, owned by Gilde Equity Management (GEM) since 2020, was founded in 1995 and has today 386 employees with head office and production in Waalwijk, Netherlands. Net sales in 2023 amounted to EUR 106 million with a profitability well in line with Latour’s wholly-owned operations. The acquisition is subject to competition clearance approval by authorities in the Netherlands.
HC Groep is a market leader in the area of indoor climate technology, with a strong position on the Dutch market. The company has a high-end product offering of 10 business labels, covering the entire building’s indoor climate systems, including building automation. HC Groep will continue to operate in the Dutch market under their own name and under current leadership.
“I am glad to welcome HC Groep to the Swegon family. HC Groep have a broad product and solutions offering as well as commercial relationships throughout the value chain in the Dutch market, one of the most progressive markets when it comes to sustainable buildings. HC Groep are engaged in both new build and renovation projects and we are glad to have partnered with such an accomplished leader in this field. The strong and well-reputed brands of HC Groep in combination with their effective and entrepreneurial structure, will be a great asset to the Swegon family”, says Andreas Örje Wellstam, CEO at Swegon Group.
“We are welcoming Swegon to the Netherlands and to HC Groep. With over three decades of experience, we will continue to create living and working environments in which we put people’s well-being first”, says Ron van Kan, Co-CEO at HC Groep.
“We are very grateful for our valuable years with Gilde and now look forward to taking the next steps. Together with Swegon we are committed to continue investing in our operations and services, and in our position as a frontrunner of sustainable building solutions. Swegon’s excellent international network will be beneficial for HC Groep’s long term future growth”, says Jos van Gelder, Co-CEO at HC Groep.
As an effect of the acquisition the net debt of the Latour Group is expected to increase with about SEK 1.8 billion.
Göteborg, 2 July, 2024
INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO
For further information, please contact:
Andreas Örje Wellstam, CEO Swegon +46 31 89 58 00
Rebecca Palm Ballesta, Corporate Development Swegon +46 31 89 58 00
Swegon Group is a market leading supplier in the field of indoor environment, offering solutions for ventilation, heating, cooling and climate optimisation, as well as connected services and expert technical support. Swegon has subsidiaries in and distributors all over the world and 21 production plants in Europe, North America and India. The company employs close to 3,000 people with a turnover of SEK 8 billion.
Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 83 billion. The wholly-owned industrial operations has an annual turnover of SEK 26 billion.