LU-VE Group acquires AIA

As from December 30th, 2011, LU-VE Group, through LU-VE Sweden AB, has acquired the entire business of Asarums Industriaktiebolag (AIA) from G & L Beijer AB.

Asarums Industriaktiebolag is one of the leading companies in the heat exchange industry in the Scandinavian markets. The company reports sales of €11.2M and has 75 employees.

Approximately 50% of AIA’s sales are made through G & L Beijer’s distribution network and the remaining 50% through AIA’s own sales organization. The financial details of the acquisition are undisclosed.

Following the acquisition, LU-VE and G & L Beijer have entered into a long term global partnership by which G & L Beijer will distribute LU-VE’s commercial refrigeration products on an exclusive basis in selected markets.

LU-VE Group sees this acquisition as a great opportunity to develop further its presence in the Scandinavian markets and take advantage of the 50-year long experience of AIA in the field of heat exchange technology.

Mediobanca – Banca di Credito Finanziario S.p.A. acted as financial adviser and Studio Biscozzi Nobili as legal adviser to LU-VE Group in this acquisition.

THE LU-VE GROUP’S leadership with passion WILL BE REINFORCED BY THE ADDITION OF THE ADVANCED SWEDISH KNOW-HOW IN OUR INDUSTRY.

Our leadership started with the technology of Contardo, always in the forefront during the 1960s and 70s.

LU-VE revamped all its products with the important innovations of the 80s and 90s and with the new constructions of the first decade of this millennium.

These achievements are the results of the studies of a nucleus of specialists, working together with a number of young technical people who have grown up in the LU-VE laboratory.
Of fundamental importance was the long-standing close cooperation with the Polytechnic University of Milan and, for some special projects, with other important research centres such as Padova, Trento and Copenhagen Universities.

NOW, THE ACQUISITION OF AIA HAS GIVEN OUR GROUP NEW FORCES AND IDEAS TO STRENGTHEN OUR ABILITY TO MAKE FURTHER ADVANCES IN THE REFRIGERATION AND IN THE BIG DRY COOLERS FOR DIFFERENT INDUSTRIAL APPLICATIONS, SO THAT WE CAN PROVIDE THE VERY BEST SERVICE TO OUR CUSTOMERS AND TO NEW SEGMENTS OF THE MARKET.