This Research Note examines what’s behind the acquisition of FläktGroup, a German HVAC systems provider, by Samsung Electronics, announced on 14th May 2025. We explore the transaction details and strategic rationale before providing our assessment of the respective businesses of both parties, based on recent press releases and Memoori analysis. Transaction Details In May 2025, Samsung Electronics announced that it has signed an agreement to acquire all shares of FläktGroup, a leading air handling solutions provider from European investment firm Triton.  The transaction is expected to close in 2025. The purchase price of €1.5 billion represents a multiple of 2.05x FläktGroup’s 2024 revenues of €730 million. Strategic Rationale The acquisition reinforces Samsung’s commitment to expand and strengthen its HVAC business, with a focus on data center cooling solutions. This deal is also confirmation of Samsung’s strategy to diversify beyond its traditional core businesses — semiconductors, smartphones, TVs and appliances — which have all come under profitability […]