U.S.-based Madison Air Solutions said on Monday it would buy German fan maker ebm-papst in a $5.4 billion deal, expanding its air quality and ventilation business in a drive to tap the fast-growing data-centre cooling market.
The transaction will see ebm-papst’s three shareholder families transfer their stakes to Madison Air, part of billionaire Larry Gies’ Madison Industries, which specialises in indoor air quality systems and ventilation equipment for cleanrooms and data centres.
Madison Air, whose shares fell 5% following the announcement, is seeking to strengthen its position in Europe and broaden its technology portfolio.