With SSW acting as the legal advisor, consent was granted by the antitrust regulator for acquisition of 100% of shares of Kospel S.A.

The M&A Team at SSW Pragmatic Solutions provided advice on the acquisition of 100% of shares of Kospel S.A. by Viessmann Group.  The transaction was pre-signed in December 2019. Having examined the transaction, the President of the Office of Competition and Consumer Protection (UOKiK) granted their consent to the deal being finalised. The acquisition is considered one of the biggest transactions in the HVAC (heating, ventilation and air conditioning) sector in Poland.

Established in 1990, Kospel S.A. is a manufacturer of electric heaters, instantaneous water heaters and hot water storage tanks. The company employs more than 500 people at four locations across Poland.

The Viessmann Group is one of the world’s leading manufacturers of heating, industrial and refrigeration systems. The company will support and finance further dynamic development of Kospel S.A. The acquisition will allow Viessman to expand its operations in the CEE region.

Krzysztof Łukasik, the President of the Management Board of Kospel S.A. and its current owner, says that he is extremely proud that the business he started nearly 30 years ago will now be continued by a large family company:

Finding new ways to grow has always been high on my agenda.

he claims. He promised to actively participate in further development of the Kospel brand.

The legal advisory project was managed by the M&A team: Sebastian Ponikowski (partner, project leader) and Marta Szymczyk (associate). The following SSW team members advised on anti-trust matters related to the transaction: Jakub Jędrzejewski (partner) and Joanna Kanicka (junior associate).