The company also recently bought the 30 per cent stake in French heating and ventilation business Muller Group that it did not own, having taken a 70 per cent holding in the unit in the late 1990s.In November last year Lennox said it would explore “strategic alternatives” for its European commercial heating, ventilation, and air conditioning and refrigeration business, which accounted for just 5 per cent of group revenue.
The acquisition of Hyfra Process Cooling, which employs 245, will bring to more than 1,500 the number of staff employed by Glen Dimplex in Germany, across its heating and precision cooling operations. “This strategic acquisition marks an important milestone for Glen Dimplex, enabling us to further expand our precision cooling business globally, and align with customer needs as we transition to a more sustainable future,” he said.
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