# Swegon Group acquires American Geothermal

Investment AB Latour, through its wholly-owned subsidiary Swegon Group AB, acquired American Geothermal, a US manufacturer of heat pumps and chillers for the concrete industry and commercial buildings. American Geothermal has 40 employees and sales of $14 million in 2024.

- Type: Acquisition
- Announced: 2025-02-14
- Where: Murfreesboro, Tennessee, United States
- Jobs: 40
- Status: completed
- Products: heat pumps, chillers, batchwater heating and cooling equipment
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Swegon](https://endata.com/companies/16491.md) (acquirer)
- [Investment AB Latour](https://endata.com/companies/41317.md) (acquirer)
- [American Geothermal](https://endata.com/companies/82953.md) (target)

## Sources

- [news.cision.com](https://news.cision.com/investment-ab-latour/r/latour-acquires-heat-pump-and-chiller-manufacturer-american-geothermal-and-increases-the-presence-in,c4105880), 2025-02-14: "This acquisition marks a milestone in our strategy to increase our presence in North America."
- [energy-manager.ca](https://www.energy-manager.ca/swegon-expands-into-industrial-market-with-american-geothermal-acquisition/), 2025-03-10: "There is a strong urgency to decarbonize HVAC systems in both new and existing buildings, and American Geothermal offers all electric solutions that use advanced technology to both heat and cool water."

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