Solar A/S, a company on Nasdaq Copenhagen, has acquired the controlling interest in ThermoNova A/S, which manufactures high-capacity heat pumps for the manufacturing industries.
The transaction strengthens Solar’s strategic focus areas within climate and energy, and at the same time ThermoNova A/S receives a capital injection that will ensure the necessary funding for investing in a major expansion of the company's production capacity.
ThermoNova A/S was established in 2016 by Mads Hougaard and Steen Fristrup. With their combined 24 years’ experience from the heat pump industry, the two founders have specialised in high-capacity heat pumps. This includes large heat pumps for commercial use; primarily within air-to-water and air-to-air for heating buildings and secondarily geothermal plants.
Horten has advised the sellers of ThermoNova A/S on all legal aspects of the transaction.
Horten’s team was headed by Jonas Eigil Nielsen and Andreas Schønbeck.
Read more about the transaction: Solar acquires Danish heat pump manufacturer ThermoNova