Baker McKenzie Switzerland, in cooperation with other Baker McKenzie offices, advised Swiss building supplier Arbonia on the successful completion of the sale of its climate division to Midea Electrics Netherlands B.V., a company of Midea Group (“Midea“), which was agreed by the parties in April 2024.
This transaction has been completed after the European Commission granted its unconditional approval at the end of January 2025. The sale generated proceeds of EUR 742 million and resulted in a book profit in the low triple-digit million range for Arbonia.
Arbonia’s now sold climate division develops and manufactures products and systems for sustainable heat and cold generation, heat storage, cold distribution, ventilation, and air filtration. In 2023, it recorded net revenues of CHF 576.6 million, employed over 3,000 employees and managed, besides international sales offices, eight specialized production sites and five development competence centers throughout Europe. Midea plans to continue to invest in the division’s existing sites, employees and R&D expertise.
