HVAC acquisition

16 Oct 2013

Hi Air Korea has acquired majority control of the Novenco Group, a global supplier of energy efficient heating, ventilating and air conditioning (HVAC) technology.

With the acquisition, Hi Air Korea and the Novenco Group are looking to become a more significant player in the HVAC market for the marine and offshore sectors.

Steen Rasmussen, CEO, Novenco Group, said he was pleased about the acquisition. “An industrial owner, which can take the company to the next level”, he said.

The Novenco Group exports more than 90% of its products globally. It’s known for its world class technology including the cost and energy efficient ZerAx fan.

Both companies will be run autonomously and there are no plans for integration so there should be no disruption to customers.

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