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Bitzer Case Study

Buy Side Case Study: Manufacturing/Green Energy

Company: Bitzer US, Inc. a Flowery Branch, GA base subsidiary of Bitzer SE, a leading German independent manufacturer of compressors, condensers and pressure vessels for industrial refrigeration and air conditioning applications.

Situation:  Bitzer sought to continue its growth through acquisition and expand into new markets that would diversify its product lines and extend the company’s reach into new sectors while remaining in line with its core principles, including its interest in expanding into sustainable energy products.  Desired characteristics included long-term synergies and a strong existing salesforce

Advisory Role: BCA was engaged by Bitzer US as its exclusive advisor in its acquisition process. BCA provided industry research and screened potential acquisition targets to ensure each candidate closely aligned with Bitzer’s goals and principles.  It then initiated conversations with select prospects.  Electratherm was a company that developed generators that convert waste heat into power, presenting a product that is not only able to supply power but that is highly beneficial for the environment and offers a strong return on investment for customers.  These financial and environmental benefits along with the potential synergies and scalability of its technology made Electratherm an attractive target for Bitzer. In addition, they had highly capable leadership and a strong salesforce in a market that Bitzer did not have a strong presence.  BCA completed the analysis and modeled the potential transaction, ultimately helping Bitzer determine that Electratherm was the best choice.

Result:  Bravaldo Capital Advisors provided critical, comprehensive advice and led the deal to a smooth and successful closing.  The transaction fulfilled Bitzer’s criteria of diversification and gave them access to coveted technology that could be scaled and integrated with current product offerings, accelerating their progress toward providing more energy-efficient solutions.

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