Mitsubishi Electric acquires Swedish HVAC Distributor AQS

Japan's Mitsubishi Electric has announced that its Amsterdam-based subsidiary in Europe has acquired all shares in Swedish comfort, process and IT cooling and heat pump distributor, AQS Produkter AB. In a press release, the Japanese firm described the Swedish market as having "promising prospects".

AQS has been selling commercial cooling and heat pump products for 35 years and, as such, the company and its employees already possess strong technical capabilities and know-how. 

Prior to the acquisition, Mitsubishi Electric has been selling mainly residential and light commercial products in Sweden through its Scandinavian branch. AQS has been the primary distributor Mitsubishi commercial cooling and heat pump products in the region.

“We welcome AQS to the Mitsubishi Electric family. This is an exciting opportunity for us to strengthen and expand our offering on the Swedish market. The addition will complement our existing portfolio and enable us to cater even better for the high market demand for innovative and energy saving chiller technology,” said Itaru Watanabe, Branch President of Mitsubishi Electric Europe B.V (Scandinavia).

Residential air conditioners and hot-water heat pumps have been gaining popularity in Sweden, where people are striving to combat global warming by saving energy. Also, chillers are being increasingly adopted for commercial cooling systems in the Swedish market. In addition, the data centre expansion in Sweden has significantly increased the market for IT cooling.

Through the acquisition of AQS, Mitsubishi Electric said it aims to strengthen its commercial business in Sweden and also to strengthen total solutions capabilities of Mitsubishi Electric Europe by taking advantage of its new partner’s know-how.

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