Viessmann has acquired Dutch family-owned company Priva. The transaction combines Viessmann’s air conditioning, cooling and industrial solutions with the Dutch expertise in building automation as well as climate and process control at Priva. The partnership of the two family-owned companies is expected to strengthen their sustainability strategies.
Viessmann has acquired a minority shareholding in Priva to emphasize the long-term perspective of the partnership. This allows Priva to pursue its strategy, which focuses on technical innovation and international growth while maintaining its independence. Viessmann, in turn, can use its stake to rapidly develop its business in climate solutions for commercial buildings and explore opportunities in the horticulture sector.
Shibley Righton LLP acted as Canadian counsel to Viessmann in connection with its acquisition of a minority position in Priva Holding B.V. The lead partner on the transaction was Marlin Horst with assistance from Joel Berkovitz in respect of intellectual property matters.
