Following its recent acquisition of Fujitsu General’s air conditioning business, Paloma is set to purchase a majority stake in Groupe Atlantic, a leading French heating, ventilation, and air conditioning (HVAC) company.

Groupe Atlantic boasts a portfolio of more than 15 well-known brands in the HVAC sector. It has maintained a cooperative partnership with Fujitsu General for over 30 years and has long served as the latter’s air conditioning equipment distributor in France and the Benelux Economic Union region. In 2022, the two parties further established a joint venture dedicated to the local production of air-to-water heat pump systems.

Upon the completion of this acquisition, Groupe Atlantic will keep its headquarters in France and operate as an independent subsidiary under the Paloma Group. Some long-standing family shareholders of Groupe Atlantic will retain minority stakes, and the existing management team will stay in office to continue advancing the company’s established strategic and operational plans.

It is reported that Groupe Atlantic posts a net revenue of nearly 3 billion euros. Currently, the company runs 31 production bases across four continents worldwide, with an extensive business reach and a total workforce of 12,000 employees.

Source: coolingpost