Midea acquires Arbonia’s climate division: the advisors
Swiss building supplier Arbonia completed the sale of its climate division to Midea Electrics, a subsidiary of the Midea Group (Midea).
Baker McKenzie Switzerland, in cooperation with other Baker McKenzie offices, advised the selling part, while Lenz & Staehelin represented the buyer.
The context
Following the initial agreement in April 2024, the sale has been eventually completed at the end of January 2025, once the European Commission granted its unconditional approval. The transaction accounted for a EUR 742 million aggregate, generating a book profit in the low triple-digit million range for Arbonia.
The object of the deal, Arbonia’s climate division, developes and manufactures products and systems for sustainable heat and cold generation, heat storage, cold distribution, ventilation, and air filtration.
In 2023, the division generated a net income of CHF 576.6 million, while employing over 3,000 employees and managing eight specialized production sites and five development competence centers across Europe.
Midea plans to invest in the Arbonia’s existing sites, employees and R&D expertise.
The Baker Mckenzie teams
Zurich-based Partners Alexander Fischer (pictured above- left) and Alexander Blaeser (pictured above-right) led the Baker McKenzie global team on the matter.
From the Zurich office, partners Matthias Courvoisier (capital markets), Martin Furrer (M&A), Philippe Reich (international commercial and trade), Julia Schieber (IP), Roger Thomi (antitrust and competition), Boris Wenger (antitrust and competition) further contributed to successful completion of the deal, working alongside associates Kevin Ardueser (M&A), Nadine Charrière (IP), Johanna Moesch (IP), Kaspar Projer (dispute resolution and sanctions compliance), David Rohner (dispute resolution), Philipp A. Ruchti-Baltensperger (M&A, real estate), Raphael Schneuwly (M&A), Kiara Sharifi (M&A), Vinzenz Sutter (M&A) as well as trainee lawyers Valentine Dändliker, Laksanaporn Chaiyakham and Paula Ulmi. Moreover, M&A partner Olha Demianiuk took part in the operations from the Geneva office.
Futrthermore, Baker Mckenzie’s teams from Germany, Amsterdam, Brussels, Madrid, Milan, Paris, Prague, Stockholm, and Warzaw, as well as FenXun partners, all contributed to the global advisory effort.
The Lenz & Staehelin team
M&A partner Tino Gaberthüel (pictured) led the Lenz & Staehelin team on the transaction, working alongside Arnold Romero, Raphael Fries (both M&A), Matthias Oertle, Anja Affolter Marino, Helin Dalla Palma (all employment & pensions), Astrid Waser (antitrust), Alexander Greter, Isabel Guth-Wanner (both regulatory) and David Hitz (IP).
