Daikin acquires Swedish heat pump service company Kylslaget

Growth and excellence strategy in Scandinavia

Daikin's acquisition of Kylslaget marks another significant step in the company's expansion strategy in Scandinavia, following the acquisition of BKF Klima in Denmark earlier in 2024. Scandinavia has been an important market for the company for many years: in the region, Daikin first established Daikin Sweden in 2008, followed by Daikin Norway (2018), Daikin Finland (2018) and Daikin Denmark (2024).

Daikin holds a leading position in the heating, ventilation, air conditioning and refrigeration (HVAC-R) market in Europe. With the acquisition of Kylslaget, the company further strengthens its position in Sweden.

Strong demand and environmental awareness in Sweden

The Scandinavian market is the most advanced residential heat pump market in Europe. In Sweden, the adoption rate of heat pumps for residential heating is significant.

Heat pumps are energy-efficient and low-carbon solutions for heating and domestic hot water. They use electricity to harness renewable energy from the environment. The technology ensures both economic and environmental benefits. Heat pumps are particularly attractive if the electricity-to-gas price ratio is favourable. With an electricity-to-gas price ratio of 1.22 in Sweden¹, heat pumps have a high return on investment. The country has one of the highest concentrations of heat pumps in Europe, with approximately 437 heat pumps per 1,000 households². Sweden has been one of the fastest adopters of heat pump heating in new buildings in Europe, and is now replacing older systems, with the heat pump market growing steadily. This trend is expected to continue.

Heat pump heating is essential to achieve global, regional and national decarbonisation targets. With already a high number of heat pumps installed, and a further expected growth of the category, Daikin is committed to fulfilling its responsibilities as a manufacturer. This commitment involves not only the supply of high-quality equipment but also the provision of exceptional maintenance and service. The acquisition of Kylslaget will enable Daikin to scale up all services for its Swedish professional and residential customers alike.

Strengthen service network and expert training programmes

Through this strategic acquisition, Daikin will strengthen its foothold and service capacity in Sweden. Kylslaget has built a strong reputation in the Swedish market for its superior, extensive installation, after-sales service and training capabilities and capacity.

"Kylslaget can serve 95% of Swedish households thanks to their presence in key areas around Stockholm, Göteborg and Malmö. They have built extensive service capacity and have created an outstanding training program for technicians. We look forward to exchanging our joint technological HVAC-R expertise and utilise their experience to further build out our nationwide service organisation in Sweden,” said Stéphane Cupani, Managing Director at Daikin Sweden.

¹EU Publication SWEDEN: STATUS OF THE HEAT PUMP MARKET (ratio all taxed and levies included, currency euro) ​
​​ ​ JRC Publications Repository - Heat Pump Market: Country Fiches – direct download here

²ehpa Publication European Heat Pump Market and Statistics Report 2024

About Kylslaget AB

Founded in 2007, Kylslaget AB specializes in the installation, maintenance, and repair of residential heating systems. With a dedicated team of 32 employees, the company has built a reputation for quality service and customer satisfaction. Kylslaget can serve 95% of Swedish households thanks to their presence in key areas around Stockholm, Göteborg and Malmö. Kylslaget's unique training programmes ensures a steady supply of skilled technicians, addressing the industry's workforce challenges, and the company provides more than 7,000 maintenance services annually.

About Daikin Europe N.V.

The Daikin Europe group is the leading provider of heating, cooling, ventilation, air purification and refrigeration (HVAC-R) technology in Europe, Middle East, and Africa. Daikin designs, manufactures, and offers customers a broad portfolio of products, maintenance services as well as turnkey solutions for residential, commercial, and industrial purposes. To date, Daikin Europe has over 13,800 employees across more than 59 subsidiaries. It has 14 manufacturing sites in Belgium, the Czech Republic, Germany, Italy, Spain, Austria, the United Kingdom, Turkey, the United Arab Emirates, and the Kingdom of Saudi Arabia. Headquartered in Ostend (Belgium) for over 50 years, the Daikin Europe group is a subsidiary of the global group Daikin Industries.

About Daikin Industries Ltd.

Daikin Industries (DIL) is a worldwide leader in heat pump, air conditioning, and air filtration technology with more than 98,000 employees. Founded in Osaka in 1924, it is the only manufacturer in the world that develops and manufactures heating, ventilation, air conditioning, and refrigeration equipment, as well as compressors and refrigerants in-house. Daikin was named one of the world’s top 100 most innovative companies by Clarivate (UK) and LexisNexis (USA), recognized for its leadership in technology research and intellectual property patents. For its fiscal year 2023 Daikin reported a record sales result of € 28 billion sales (1 April 2023 – 31 March 2024).

Read more on www.daikin.eu and www.daikin.com.

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