The Vasco Group's markets more or less compliment existing HVAC division markets. While Vasco occupies a leading market position in Belgium and the Netherlands, Arbonia's companies with their brands Kermi, Arbonia, Sabiana and Prolux are active mainly in Germany, Switzerland, Italy, France and Poland. In addition to exploiting markets in the Benelux countries, the HVAC division will be further expanding its market share in France and Germany.

One the one hand, by acquiring the Vasco Group, Arbonia adds the Vasco, Brugman and Superia brands to the division's product portfolio. These are market leading brands in the Benelux countries, where they were established. On the other hand, it also adds premium design radiators to its portfolio, in particular in the higher-priced market segment for the DACH markets, in Eastern Europe, Russia, Asia and in the Middle-East. In parallel, Arbonia also has the opportunity to grow in the market segment of residential ventilation in the area of centralised and decentralised applications, as well as the underfloor heating segment.

By strengthening marketing and cross-selling activities in sales and increased shared value creation in the R&D and Purchasing & Production business units, the HVAC division can benefit from synergies and grow in a sustainable manner to make the Arbonia Group still stronger.

The Vasco Group, with its various companies, will be integrated into the HVAC division. However, they will act autonomously in their markets under the existing Vasco brands. All employment relationships will be transferred over to Arbonia.

The parties have agreed to remain silent regarding the purchase price. The acquisition was financed by Arbonia in mid-April using a bonded loan.

The signing and closing of the acquisition will take place on the Wednesday evening of 16th of May 2018.