BITZER has inked a joint venture agreement with automation expert Wurm.
BITZER will be the majority shareholder of the newly established Wurm Holding GmbH from January 1, 2019.
As a leading manufacturer of electronic system solutions for refrigeration, air conditioning and ventilation applications, all national and international Wurm companies will be integrated into the new holding company.
The agreement is still subject to the approval of the competition authorities.
As a managing partner, Dr Horst Peter Wurm will join the management team of the new Wurm Holding GmbH and will step down from the operational management of the individual Wurm companies in mid 2019.
In the holding company, he will supervise the long-term development and strategic orientation of the group in coordination with BITZER.
No changes will be made to the management of the Wurm Group, its senior employees, or any of its operational sites in Germany or abroad.
“It will even be business as usual for all of our customers who will keep the same representatives,” according to Dr Horst Peter Wurm.
Rainer Große-Kracht, member of the Management Board and Chief Technology Officer at BITZER, said that prior to the joint venture announcement the two companies had worked together for well over a decade,
“We realised how much we could profit from one another technologically and stimulate the market in these challenging times,” Große-Kracht said.
By working together, both companies are gaining a strong strategic partner to shape technological developments in the refrigeration and air conditioning industry.
“Together, BITZER and Wurm can provide their customers with new intelligent solutions and ensure the independence of two innovative family-run companies in the long term,” he said.
The Wurm Group is a leading provider of automation systems for refrigeration systems and technical building management in retail in Germany and Europe.
Based in Remscheid, Germany, the company employs more than 220 staff and has decades of expertise in automation technology for commercial refrigeration. Wurm has sites in Germany, Switzerland, Austria and Benelux.