Danfoss have entered into an agreement to take over the majority of shares in Sheffield-based ECO Heat Pumps.
The buyout is Danfoss’ sixth acquisition within the heat pump sector in less than three years, and, says division president Nis Storgaard will help the company make the most of market growth. “It is essential to establish ourselves in the key markets, while the market is still emerging,” he said, “and this is the rationale behind the agreement with ECO Heat Pumps.
“The agreement with ECO Heat Pumps helps us strengthen our opportunity to take a leading position and get our share of future market growth,”
ECO Heat Pumps’ previous owner Phil Moore will continue as managing director of the company.