Danish component manufacturer Danfoss announced on October 10 its intent to acquire compressor manufacturer BOCK GmbH, headquartered in Frickenhausen, Baden-Württemberg, Germany, from NORD Holding GmbH.
Danfoss noted that the acquisition of BOCK, which has developed compressors for the CO2 (R744) since 1993, would strengthen its expertise in CO₂ and natural refrigerants technology.
“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,” said Kristian Strand, President of Danfoss Commercial Compressors, in a statement.
BOCK said it has “one of the world’s largest portfolios of semi-hermetic compressors” for CO2 and hydrocarbon refrigerants. Danfoss will be adding this to “its already strong portfolio of oil-free centrifugal compressors, inverter-scroll, reciprocating and screw compressors, and condensing units,” said Danfoss.
The transaction is subject to regulatory approval and is expected to close no later than Q1 2023. The new compressor business from BOCK will be managed by Danfoss Commercial Compressors, part of Danfoss Climate Solutions.
“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
Kristian Strand, Danfoss
“It has never been more relevant to accelerate the green transition, and efficient compressors running with Low GWP refrigerants are instrumental to achieving that target” said Jürgen Fischer, President, Danfoss Climate Solutions. “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!“
“This really is an exciting moment for all of us,” added Dr. Marcus Albrecht CEO of BOCK. “After our strong and successful growth in the last two years, now becoming part of the Danfoss family will open new business opportunities for BOCK. Based on our close partnership, we can say with certainty that together we are ideally positioned to become one of the strongest players in the compressor business globally. Not only do we share the same ideas of how to develop the business, but we also have the same values when it comes to our people and how to drive growth.”
BOCK has a workforce of around 350 worldwide and manufacturing sites in Frickenhausen, Germany; Stribo, Czech Republic; Bangalore, India; and Suzhou, China. Its compressors serve mobile and stationary refrigeration systems in transport, bus, retails, logistics, storage, and food processing.
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