CAREL acquires a further 30% stake in the share capital of Arion S.r.l., bringing its shareholding to 70%

CAREL Industries S.p.A. announces that it has acquired a further 30% of the share capital of Arion S.r.l., the joint venture based in Bolgare (Bergamo Province – Italy), established in 2015 between CAREL and Bridgeport S.p.A. with the aim of developing sensor technology expressly dedicated to the air conditioning and refrigeration sectors. Bridgeport’s sale of this stake to CAREL brings the Group’s total shareholding to 70%, while the remaining 30% is held by Bridgeport.

The transaction is consistent with the Group’s long-term strategy since the use of increasingly advanced sensorswill make the equipment more efficient, more reliable and more connected with the eco-system in which they are inserted, also facilitating the activation of digital services.
It will also allow for greater integration between Arion and CAREL, with an improved focus on those applications that are showing significant growth trends, while at the same time allowing for greater investments in terms of personnel and know-how.
Finally, the possibility of having an increasingly modern and competitive range of sensors in its wide portfolio of solutions and products guarantees CAREL a role as a single operator in terms of completeness in the air conditioning and refrigeration sectors.

In 2021 Arion had revenues of €2.7 million, EBITDA of approximately €500,000 and net cash of approximately €350,000. The consideration for the acquisition of 30% of the share capital of the above-mentioned company was approximately €1,2 million.