Swegon to acquire American Geothermal.

Swegon Group, a Swedish indoor climate solutions provider, has signed an agreement to acquire American Geothermal, a Tennessee-based manufacturer of heating and cooling systems, including the ChillMaster line of heat pumps and chillers. Financial terms were not disclosed. “As green environmental initiatives and regulations continue to evolve, we see great potential to grow our heat pump and chillers business in North America and complete our BlueBox offering. This acquisition marks a milestone in our strategy to increase our presence in North America." Andreas Örje Wellstam, Swegon Group CEO.