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Flow Technology has acquired 80% of the shares in Eveco Handel AB, a supplier of smart products and systems for cooling, heating, and air comfort for commercial premises. The company has a turnover of 120 MSEK.
Eveco is based in Mölndal and sells, among other things, fan coil units, fan heaters, and air curtains with accompanying control technology to ensure a good indoor climate. The company offers customized solutions for the best possible indoor climate and contributes expertise throughout the process, from requirement specifications, and products, and to serviceafter sales.
Eveco becomes a strong addition to Flow Technology as their products emit heat and cool from water-based systems including heat pumps, district heating, and electric boilers, products that several of Ernströmgruppen's companies distribute. Through industry-leading solutions, Eveco has over time established a strong market position with sales to the professional segment and constitutes a strong addition to the other companies within the business area. The company therefore fits well into the continued building of Flow Technology as an independent and sustainable business area.
The market for Eveco's products is driven by a strong construction market within commercial premises alongside the transition to more energy-efficient solutions, where water-based heating and cooling are good alternatives. Smart solutions for energy efficiency are important for us to achieve the UN's global goals, where one of the sub-goals is a doubling of energy efficiency in the world before 2030. Eveco offers products with EC motors which means the possibility of more efficient control compared to traditional AC motors, enabling an energy saving of up to 70%, reducing emissions of carbon dioxide and other greenhouse gases.
"Eveco has a strong focus on helping its customers with energy-efficient solutions with a high level of service to optimize the indoor environment while reducing environmental impact. They have a business model with long-term customer relationships and steady recurring purchases which enable stability and are completely in line with Ernströmgruppen's ambition to deliver sustainable solutions for energy efficiency. It is our ambition that together we will further develop the niche they have been so successful in,” says Fredrik Skarp, business area manager for Flow Technology at Ernströmgruppen.
“Ernströmgruppen is a family-owned long-term industry group that shares our core values in business and sustainability. We are pleased to be part of the Ernströmgruppen with companies that share our opportunities and challenges and believe that jointly we will be able to develop Eveco to the next level," says CEO and co-owner Ola Lindstrand.