Sustainable energy technology company ENER-G plc has acquired a second Hungarian business for an undisclosed sum.
ENER-G has taken a 100% stake in Budapest’s Kipszer Klima Controll, a supplier of air-conditioning, heating and specialist clean air technology systems to a broad customer base in central and northern Europe, including the Hungarian Parliament building, Egis, GSK, Richter Gedeon, Zoltech and Tungsram GE.
The company specialises in creating ‘pure space’ environments for clean room applications such as hospital operating theatres, laboratories, pharmaceutical facilities and micro-electronic assembly areas.
Greater Manchester-based ENER-G has a turnover of more than £70m and employs 650 people in the
ENER-G already owns Hungarian cogeneration company ENER-G Energia Technológia Zrt, which was acquired in 2006, and the enlarged group will benefit from synergies between the two Hungarian enterprises.
The acquisition of Klima Controll brings ENER-G’s major transactions to four in ten months, following its purchase in October 2007 of utilities services company CMR Consultants; energy metering and control business Switch2 in December; and renewable, geothermal heating and cooling specialists Ground Source Solutions in April 2008.
Klima Controll was acquired from the family of Imre Koszta, who will continue to run the business together with Zoltan Ballago as Project Director and Zsolt Racz as Service Manager. ENER-G group managing director Derek Duffill, together with Peter Szabo and Balazs Marialigeti of ENER-G Energia Technológia, will join the Klima Controll board.
Commenting on the transaction, Derek Duffill said: “Klima Controll's strong technical skills and comprehensive turnkey solutions will deliver powerful synergies as a result of operating alongside ENER-G. This is a key acquisition for us in an increasingly important European region and I am confident that it will drive further growth.”
Imre Koszta added: “I look forward to working together in what promises to be an exciting and profitable venture. Klima Controll is a skilled, experienced and well-resourced operation. This gives us the ability to expand across central
Euro-Phoenix Financial Advisors, a Central European M&A advisory firm, acted for Klima Controll.
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