# Carel acquires 51% stake in CFM Soğutma ve Otomasyon

Carel signed a binding agreement to acquire 51% of CFM Soğutma ve Otomasyon A.Ş., a Turkish HVAC&R distributor and service provider, for €23.1 million. The deal is expected to close by end of July 2021, with an option to buy the remaining 49% between 2024 and 2027.

- Type: Acquisition
- Announced: 2021-05-07
- Where: Izmir, Türkiye
- Value: $28.0M (23.1M EUR)
- Status: announced
- Products: HVAC&R controls and services
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [CAREL Industries](https://endata.com/companies/9686.md) (acquirer)
- [CFM Soğutma ve Otomasyon](https://endata.com/companies/54955.md) (target)

## Sources

- [hvacrnews.com.au](https://hvacrnews.com.au/business/carel-to-acquire-majority-stake-in-turkish-partner/), 2021-05-07: "Carel has signed a binding agreement for the acquisition of 51 per cent of CFM Soğutma ve Otomasyon A.Ş."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.