Private Assets SE & Co. KGaA entered into agreement to acquire Zehnder Climate Ceiling Solutions GmbH from Zehnder Group AG (SWX:ZEHN) on May 16, 2024. In addition, Zehnder Group also intends to sell its Climate Ceiling Solutions unit in France (Zehnder Climate Ceiling Solutions SAS) to Private Assets. The business area of Radiant Ceiling Panels for heating and cooling is not part of the transaction and will remain with Zehnder Group. Climate Ceiling Solutions generated revenue of around ?23 million in 2023 and employed a total of 75 people but has been loss-making in recent years. Closing of the transaction is subject to closing conditions and a prior employee information in France, which is customary for such transactions. The transaction will result in a one-off loss of about ?10 million. Dr. Andreas Lenz, Dr. Christoph Schork and Dr. Verena Hoene of Heuking Kühn Lüer Wojtek acted as legal advisor to Private Assets SE & Co. KGaA.

Private Assets SE & Co. KGaA completed the acquisition of Zehnder Climate Ceiling Solutions GmbH from Zehnder Group AG (SWX:ZEHN) on July 1, 2024.