Stefan Hartung, Chairman of the Board of Directors of Bosch Group: “This is the largest acquisition in the history of Bosch and an important milestone in the implementation of the Bosch 2030 strategy.”

• Christian Fischer, Vice Chairman of the Board of Directors of Bosch Group: “The acquired business will strengthen Bosch’s competitiveness in the booming HVAC sector and become part of the core business of the Bosch Group.”

• Expanding Bosch’s presence in the US and Asian markets

Innovative, energy-efficient solutions that drive the energy transition and help mitigate global warming

• Bosch Comfort Technologies sales will increase from approximately €5 billion to €9 billion

• After the acquisition, Bosch’s new Comfort Technologies division will have more than 26,000 employees and a complete product portfolio from heating to cooling

DSTC120 Stuttgart, Germany – Global technology and services provider Bosch will continue to drive growth through strategic acquisitions. The Bosch Group plans to acquire Johnson Controls’ global home and light commercial HVAC business and incorporate it into the Energy & Building Technologies business segment. As part of the transaction, the Bosch Group also plans to acquire full ownership of the Johnson Controls-Hitachi Air Conditioning joint venture, which includes a 40% stake in Hitachi. Bosch Group shareholders and the Supervisory Board have approved the acquisition. Today, the parties signed a binding agreement for the acquisition, which is subject to antitrust approval. The purchase price for the business is $8 billion (€7.4 billion) and the acquisition is expected to close in about a year.

Condensing heat pumps from Bosch for the US market

DSTC120 “This is the largest M&A transaction in Bosch’s history and an important milestone in the implementation of the Bosch 2030 strategy. We are actively driving the growth of the Bosch business and will use this acquisition to gain a global leadership position in the high-potential HVAC market.” Stefan Hartung, Chairman of the Board of Directors of Bosch Group, said: “Furthermore, this acquisition will further strengthen our presence in the United States and Asia, and promote balanced development across our business segments, which is part of our strategy. As a result, we will open up broader room for growth and lay a more solid foundation for the company’s steady development in the future.”

Together with the Johnson Controls-Hitachi Air conditioning joint venture, Bosch’s proposed acquisition will have combined sales of approximately €4 billion in 2023 and employ approximately 12,000 people. The business has 16 production sites and 12 technical centers in more than 30 countries around the world. Its product portfolio covers the entire residential and light commercial HVAC business, including well-known brands such as York and Coleman in the US market and Hitachi in Asia, for which Bosch will receive long-term licenses.

With this acquisition, Bosch’s sales in the HVAC segment will nearly double

Christian Fischer, Vice Chairman of the Board of Directors of the Bosch Group and head of Strategic Growth initiatives, is in charge of the acquisition. He added: “With this acquisition, Bosch’s business will accelerate and its HVAC sales will nearly double to approximately €9 billion. We look forward to capitalising on the huge market opportunities and, together with our new employees, driving further growth in this new business unit.” Thanks to technological advances, climate change action and new regulations, Bosch expects the global HVAC market to grow by 40% by 2030. “The acquired business will become part of the Bosch Group’s core business, benefiting customers, installation partners and employees alike,” Fischer added. “We have a proven track record of integrating brands, investing to drive business growth and strengthen ourselves.”