Munich / Bad Berleburg, 19th December 2018 – Funds advised by Equistone Partners Europe („Equistone“) have agreed the sale of a majority stake in OTTO Luft- und Klimatechnik GmbH & Co. KG („OTTO“) to Engie Deutschland GmbH („Engie“), one of the leading companies for technical building services, facilities management, industrial refrigeration technology and energy services in Germany. OTTO, a leading specialist provider of ventilation and air-conditioning solutions, cooling technology and building automation, was acquired in May 2014 by Equistone. The financial terms of the transaction are undisclosed and completion of the sale remains subject to the approval of the relevant competition authorities.
