Zehnder strengthens ventilation business in Spain and Portugal
The Zehnder Group is expanding its residential ventilation business in Spain and Portugal. By acquiring the Spanish company Siber, with locations in Les Franqueses del Vallès and Madrid, Zehnder strengthens its market position in Southern Europe.
The Zehnder Group is expanding its residential ventilation business in Spain and Portugal. The international indoor climate expert is gaining broader access to these two markets by acquiring the Spanish company Siber. Its administration, factory and innovation centre are located in Les Franqueses del Vallès near Barcelona, while the logistics centre is in Madrid.
According to an ad hoc announcement, the transaction was financed with existing credit lines and liquid funds. Closing is expected in the coming weeks. Siber expects sales of around EUR 37 million for the 2024 financial year with an EBIT margin on a par with the Zehnder Group’s ventilation segment.
According to the Zehnder Group, this is a “unique opportunity”. This is because Siber’s attractive product portfolio is ideally tailored to southern European customer needs and covers the mid-price segment. “This will help the Zehnder Group to sustainably strengthen its growth, particularly in Spain and Portugal as well as other southern European countries.”
Zehnder Group CEO Matthias Huenerwadel describes the acquisition of Siber as “another milestone in the targeted expansion of our residential ventilation business. The complementarity of customers and products, combined with regional strength and a pronounced capacity for innovation, make Zehnder and Siber a perfectly complementary combination.”