5437-1079 Stefan Hartung, Chairman of the Board of Directors of Bosch Group: “This is the largest acquisition in Bosch’s history and an important milestone in the implementation of the Bosch 2030 strategy.”
Christian Fischer, Vice Chairman of the Board of Directors of Bosch Group: “The acquired business will strengthen Bosch’s competitiveness in the booming HVAC sector and become part of the core business of the Bosch Group.”
Expanding Bosch’s presence in the US and Asian markets
Innovative, energy-efficient solutions that drive the energy transition and help mitigate global warming
Bosch Comfort Technologies’ sales will increase from approximately €5 billion to €9 billion
After the acquisition, Bosch’s new Comfort Technologies division wil5437-1079 l have more than 26,000 employees and a complete product portfolio from heating to cooling
Stuttgart, Germany – Global technology and services provider Bosch will continue to drive growth through strategic acquisitions. The Bosch Group plans to acquire Johnson Controls’ global home and light commercial HVAC business and incorporate it into the Energy & Building Technologies business segment. As part of the transaction, the Bosch Group also plans to acquire full ownership of the Johnson Controls-Hitachi Air Conditioning joint venture, which includes a 40% stake in Hitachi. Bosch Group shareholders and the Supervisory Board have approved the acquisition. Today, the parties signed a binding agreement for the acquisition, which is subject to antitrust approval. The purchase price for the business is $8 billion (€7.4 billion) and the acquisition is expected to close in about a year.
Condensing heat pumps from Bosch for the US market
“This is the largest M&A transaction in Bosch’s history and an important milestone in the implementation of the Bosch 2030 strategy. We are actively driving the growth of the Bosch business and will use this acquisition to gain a global leadership position in the high-potential HVAC market.” Stefan Hartung, Chairman of the Board of Directors of Bosch Group, said: “Furthermore, this acquisition will further strengthen our presence in the United States and Asia, and promote balanced development across our business segments, which is part of our strategy. As a result, we will open up broader room for growth and lay a more solid foundation for the company’s steady development in the future.”
Together with the Johnson Controls-Hitachi Air conditioning joint venture, Bosch’5437-1079 s proposed acquisition will have combined sales of approximately €4 billion in 2023 and employ approximately 12,000 people. The business has 16 production sites and 12 technical centers in more than 30 countries around the world. Its product portfolio covers the entire residential and light commercial HVAC business, including well-known brands such as York and Coleman in the US market and Hitachi in Asia, for which Bosch will receive long-term licenses.
