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AIT Group makes acquisition in the HVAC sector

Zürich-based Atel Installationstechnik (AIT) Group is acquiring Luwa Schweiz AG, a leader in premises ventilation and air conditioning, from Zellweger Luwa in a deal backdated to January 2006.

Based in Uster (canton of Zürich), Luwa Schweiz AG has around 150 employees at ten locations in German- and French-speaking Switzerland and generated sales of CHF 60 million in 2005. It is one of Switzerland’s leading companies in the heating, ventilation and cooling (HVAC) sector, with a service portfolio that encompasses producing, maintaining and repairing technical building premises equipment, and operating such installations on behalf of third parties. Luwa customers include larger companies in the service and industrial sector, general contractors, and public institutions.

Activities at Luwa Schweiz and AIT complement each other excellently. With Luwa Schweiz on board, the AIT Group can extend its offering in the HVAC market and thus reinforce its position as a leading provider in Switzerland’s energy services sector. The companies will together generate HVAC sales in excess of CHF 110 million.

The divestiture of Luwa Schweiz AG by Zellweger Luwa AG marks an important step by the parent company, Hesta AG, in its transformation from an industrial to a financial holding company as announced on 18 April 2005. Excluded from the divestiture of Luwa Schweiz AG are the company’s pneumatic engineering activities for the textile industry, and Luwa’s foreign interests held by Zellweger Luwa AG.

Atel Installationstechnik Ltd. / Zellweger Luwa AG

With around CHF 500 million in annual sales and 2,500 employees, Atel Installationstechnik (AIT) Group is among the leading energy services companies in Switzerland and Italy. AIT is active in energy supply, transportation and premises engineering. Atel’s previously separate companies have been structured as a group since 1 January 1999.