CAREL to acquire a 70% stake in Sauber.

CAREL, a firm that designs and manufactures control solutions for HVAC and humidification systems, agreed to acquire a 70% stake in Sauber, a provider of installation and maintenance services for HVAC/humidification systems. Financial terms were not disclosed. "This transaction is another important step in our M&A strategy and adds to the four industrial acquisitions made between 2018 and 2021. It also constitutes an important opportunity in the service sector, among the strategic drivers of development for CAREL in the medium to long term. Finally, it once again confirms the Group's ability to pursue its goals consistently and promptly," Francesco Nalini, CAREL CEO.