• Zehnder strengthens its residential ventilation business in line with its strategy by acquiring Siber in Spain
• Complementary geographical presence and strong strategic fit in terms of customers and products
• Siber expects sales of around EUR 37 million for the 2024 financial year
• Closing expected to take place in the coming weeks

Graenichen (CH), 3 July 2024: Zehnder Group (SIX: ZEHN), a leading international provider of complete solutions for a comfortable, energy-efficient and healthy indoor climate, acquires Siber for a purchase price of approximately EUR 86 million. Zehnder Group has a unique opportunity to strengthen its position with a leading company in the residential ventilation sector in Spain and Portugal. Siber's attractive product portfolio is ideally suited to southern European customer needs and covers the mid-price segment. This will help Zehnder Group to strengthen its growth in Spain, Portugal, as well as other southern European countries, in line with Zehnder’s strategy. The transaction was financed with existing credit lines and liquid funds. Closing is expected to take place in the coming weeks.

"The acquisition of Siber marks another milestone in the targeted expansion of our regional residential ventilation business. The complementary nature of customers and products, together with regional strength and a strong capacity for innovation, make Zehnder and Siber a perfectly complementary combination," said Matthias Huenerwadel, CEO of Zehnder Group. "We warmly welcome the 120 new colleagues to Zehnder Group and look forward to realizing the joint growth potential."

For the 2024 financial year, Siber expects sales of around EUR 37 million, with an EBIT margin on a par with Zehnder Group's ventilation segment. Siber's focus is on complete ventilation systems for new buildings. The company has broad market access in Spain and Portugal.

Next dates to note

Contact

René Grieder
Member of the Group Executive Committee, CFO
Zehnder Group AG, 5722 Gränichen (Switzerland)
T +41 62 855 15 21, rene.grieder@zehndergroup.com

Alexander Kamb
Senior Manager Investor Relations & Communications
Zehnder Group AG, 5722 Gränichen (CH)
T +41 62 855 15 36, alexander.kamb@zehndergroup.com

This media release is published in German and English. The German version is binding. For further information about the Zehnder Group, please visit www.zehndergroup.com.

Company profile

Zehnder Group provides worldwide leading solutions for a comfortable, energy-efficient and healthy indoor climate. The products and services of the Group include heating, cooling, indoor ventilation and air cleaning. The Group develops and manufactures its products at its own factories in Europe, China, and North America. In the financial year of 2023, the Zehnder Group had about 3500 employees and achieved sales of EUR 762 million. The company is listed on the SIX Swiss Exchange (symbol: ZEHN, number: 27 653 461). The unlisted registered shares B are held by Graneco AG, which is controlled by the Zehnder families.
 

Cautionary note regarding forward-looking statements

This media release may contain certain forward-looking statements relating to Zehnder Group’s future business, development, and economic performance. Such statements may be subject to a number of risks, uncertainties and other important factors, such as but not limited to force majeure, competitive pressures, legislative and regulatory developments, global, macroeconomic and political trends, Zehnder Group’s ability to attract and retain the employees that are necessary to generate revenues and to manage its businesses, fluctuations in currency exchange rates and general financial market conditions, changes in accounting standards or policies, delay or inability in obtaining approvals from authorities, technical developments, litigation or adverse publicity and news coverage, each of which could cause actual development and results to differ materially from the statements made in this media release. Zehnder Group assumes no obligation to update or alter forward-looking statements whether as a result of new information, future events or otherwise.