Trane Technologies Signs Agreement to Purchase AL-KO Air Technology
SWORDS, Ireland – Aug. 30, 2022 – Trane Technologies (NYSE:TT), a global climate innovator, today announced that it has signed an agreement in principle to purchase AL-KO Air Technology, a division of AL-KO SE, based in Jettingen-Scheppach, Germany.
AL-KO Air Technology designs, manufactures, sells and services a full line of sustainable air handling units and extraction systems for a broad range of applications in diverse markets, such as pharmaceutical, healthcare, industrial processes, retail, recreation, and commercial buildings. AL-KO Air will bring complementary, high-performing solutions to the comprehensive Trane Commercial HVAC product and services portfolios in Europe and Asia.
“We’re very excited about this agreement with AL-KO Air Technology,” said Jose La Loggia, president of Trane Commercial HVAC in EMEA. “With a reputation for sustainable solutions, innovation, and quality, AL-KO Air Technology will be a natural extension of our robust Commercial HVAC platforms in Europe and Asia, and our focus on healthy and efficient buildings. We’re looking forward to welcoming our new colleagues from AL-KO Air Technology, and together helping our customers achieve their goals for high-performance heating, cooling and ventilation, indoor air quality, and decarbonization.”
Approximately 800 AL-KO Air Technology employees in Europe and China will join the Trane Technologies teams once the transaction closes. AL-KO Air Technology’s three manufacturing sites ─ in Jettingen-Scheppach and Wittenberg, Germany and Taicang, China ─ will become part of Trane Technologies, along with its sales offices in Europe and Asia.
“Trane Technologies is the perfect home for AL-KO Air Technology,” said Christian Stehle, current CEO of AL-KO Air Technology. “We share a commitment to sustainable innovation, operational excellence, superior customer service and an uplifting culture. I am excited for our future together.”
The transaction is expected to close by the end of the year. Until then, Trane Technologies and AL-KO Air Technology will continue to operate as two separate companies and conduct business as usual.
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About Trane Technologies
Trane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes and transportation. For more on Trane Technologies, visit www.tranetechnologies.com.