Danfoss plans to acquire German compressor manufacturer BOCK
Danfoss has announced the intent to acquire compressor manufacturer BOCK GmbH, headquartered in Frickenhausen, Baden-Württemberg, Germany, from NORD Holding GmbH.
With over 50 years of history and assets under management of € 2.5 billion, NORD Holding is one of the leading private equity asset management companies in Germany.
Developing compressors for the natural refrigerant CO2 since 1993, BOCK is a global technology leader in the field of environmentally friendly, economical compressors.
“By acquiring BOCK GmbH, Danfoss takes a proactive approach to further the development and use of low-GWP refrigerants to help abate global warming and to ensure the competitiveness of the industry,” a statement issued by Danfoss said.
It adds, “With the acquisition, Danfoss adds the world’s largest portfolios of semi-hermetic compressors for natural refrigerants such as CO2 (R744), hydrocarbons, and other low-GWP refrigerants to its already strong portfolio of oil-free centrifugal compressors, inverter-scroll, reciprocating and screw compressors, and condensing units.”
With an existing workforce of around 350 compressor specialists worldwide and four manufacturing sites in Frickenhausen (Germany), Stribo (Czech Republic), Bangalore (India), and Suzhou (China), BOCK GmbH manufactures compressors for mobile and stationary refrigeration systems in transport, bus, retails, logistics, storage, and food processing.
Danfoss Climate Solutions President Jürgen Fischer, said, “By expanding our portfolio with the BOCK range of semi-hermetic compressors, we deliver on our promise to help our customers decarbonize. The potential for cutting CO2 emissions is huge!“
Danfoss Commercial Compressors President Kristian Strand adds: “The acquisition will create a unique position in the market for Danfoss’ Commercial Compressors business, and our customers will benefit from a complete compressor portfolio including semi-hermetic compressors for CO2, which will help in the transition to alternative refrigerants and greater energy-efficiency.”
BOCK CEO Dr. Marcus Albrecht says: “After our strong and successful growth in the last 2 years, now becoming part of the Danfoss family will open new business opportunities for BOCK.”
The new compressor business from BOCK GmbH will be managed by Danfoss Commercial Compressors, part of Danfoss Climate Solutions.