Symphony Limited – acquisition of Climate Technologies

• Climate Technologies is one of Australia’s largest privately owned manufacturers of heating and cooling products, with brands including Bonaire and Celair and manufacturing operations in Adelaide, South Australia
• Miles advised the shareholders of Climate Technologies on the sale of the business to Symphony Limited (BSE: 517385), one of the world’s largest manufacturers of evaporative coolers
• Symphony acquired a controlling interest, giving it access to the Australian and US markets and complementary manufacturing capability

Industry Context

Heating and cooling appliance manufacturing is a scale-driven industry where global players seek to broaden their geographic footprint and product range through acquisition. Established regional brands offer acquirers immediate market access, distribution and manufacturing capability in attractive end markets. Cross-border acquisitions in this sector are often driven by the strategic value of entering developed markets and diversifying away from a single home market.

Further information on this transaction is available at: Symphony Limited / Climate Technologies Investor Presentation