Zehnder Group AG Sells Climate Ceiling Solutions Business

Zehnder Group AG, a leader in energy-efficient indoor climate solutions, has confirmed the disposal of its Climate Ceiling Solutions business to Private Assets SE & Co. KGaA. This division, previously underperforming with revenues of EUR 23 million in 2023, was responsible for around 75 employees. The German and French units of this business were sold as separate entities, not including the Radiant Ceiling Panels sector, which remains within Zehnder.

The transaction involves a one-time loss estimated at EUR 10 million, largely cash neutral, as part of a strategic pivot to concentrate on core business areas. This decision aligns with Zehnder Group's focus on enhancing its main operations. Meanwhile, the company anticipates a decrease in sales in the mid-teens percentage range and an EBIT margin of 6-7% before one-time effects for the first half of 2024, amidst challenging market conditions.

The sale marks a strategic shift for Zehnder Group, aimed at bolstering its position in the ventilation and radiator segments. The deal allows Zehnder to shed a non-essential asset while potentially stabilizing its financial standing and refining its business model to focus on more profitable sectors.