BITZER and OJ Electronics have signed the acquisition contract. The transaction is subject to usual approval and is expected to close no later than in Q3 2023. By the acquisition, BITZER as a specialist for refrigeration, air conditioning and heat pump technology is investing in broadening its scope for electronic components especially in air handling and floor heating systems – and supports energy efficiency in HVAC&R industry as well as intelligent solutions for heating.
OJ Electronics, originally founded in 1964, is a technology and innovation leader in the development, manufacturing, and distribution of control solutions for ventilation systems and electric floor heating. The product portfolio consists of controls and panels for air handling units as well as drives for fans and compressors in ventilation systems and thermostats for electric floor heating.
Cultural fit for energy efficiency and smart electronic components
“Family orientation and innovation is what makes the success both of OJ Electronics and us – and we are sure that this cultural fit will lead to even greater success”, says Christian Wehrle, CEO of the BITZER Group, “welcoming OJ Electronics at BITZER by investing in energy-efficient and smart electronic components shows our strong profitable growth strategy entirely in the sense of `more than a compressor`.”
“Bitzer has seen a great potential in the strategic direction of OJ electronics, and foreseen that the shared set of values, industry similarities and mutual strengthening of competences will be highly beneficial for both companies and their customers”, says Erik Damsgaard, CEO of OJ Electronics. OJ Electronics employs over 180 employees based in the headquarters in Sønderborg, Denmark. The developer and manufacturer of electronic components for ventilation and electric floor heating systems has a strong focus on innovation and customization.
As an independent specialist for refrigeration, air conditioning and heat pump technology, BITZER is present all over the world: with products and services for refrigeration, air conditioning and process cooling as well as transport, BITZER ensures optimum temperature conditions for trade in goods, industry processes and indoor climate control – always striving for the highest possible energy efficiency and quality. BITZER is represented all over the world with 75 sites in 40 countries, including its sales companies and production facilities. Trade and service partners included, the BITZER network of manufacturing, development and sales extends to almost all countries in the world. In 2022, over 4,000 employees generated a turnover of €983 million; expenditure for research and development totaled €53 million.https://www.bitzer.de