# LU-VE Group acquires 75% of Refrion for €8.1M

LU-VE Group, a manufacturer of air heat exchangers, has signed a binding agreement to acquire a 75% stake in Refrion S.r.l., an Italian company specializing in adiabatic air heat exchangers, for €8.1 million. The transaction is expected to close within a few weeks.

- Type: Acquisition
- Announced: 2022-02-25
- Where: Flumignano (Udine), Italy
- Value: $9.10M (8.10M EUR)
- Status: announced
- Products: air heat exchangers with adiabatic technology, heat exchangers for nuclear plants
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md), [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Lu-Ve](https://endata.com/companies/8868.md) (acquirer)
- [Refrion](https://endata.com/companies/20989.md) (target)

## Sources

- [investor.luvegroup.com](https://investor.luvegroup.com/en/news-events/news/lu-ve-group-acquires-75-refrion-group), 2022-02-28: "LU-VE Group, one of the world's leading manufacturers of air heat exchangers, announces the signing of a binding agreement for the acquisition of a majority stake, equal to 75%, in the company Refrion S.r.l."
- [investor.luvegroup.com](https://investor.luvegroup.com/en/news-events/news/LU-VE-finalizza-acquisizione-refrion), 2022-03-31: "LU-VE Group, one of the world's leading manufacturers of air heat exchangers, announces the closing of the acquisition of 75% of Refrion Group."
- [refindustry.com](https://refindustry.com/news/lu-ve-finalizes-the-closing-of-the-acquisition-of-refrion-group/), 2022-04-01: "The terms and conditions of the transaction are the same already announced on 25th February 2022."

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