Engie acquires German AC firm OTTO from Equistone Partners Europe

Engie Deutschland acquired OTTO Luft- und Klimatechnik, a German air conditioning and ventilation company, from private equity firm Equistone Partners Europe. The deal involved the majority shareholders, with a minority stake retained by Hartmut Otto Jr.

“GERMANY: Engie Deutschland has acquired German air conditioning and ventilation company OTTO Luft- und Klimatechnik. The deal was reached with OTTO’s majority shareholders, the private equity firm Equistone Partners Europe who acquired the business in 2014. A minority investment was retained by Hartmut Otto Jr, the son of the company’s founder.”

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