Trane Technologies Acquires Minority Stake in Kieback&Peter
Global climate innovator Trane Technologies has entered into a definitive agreement with Kieback&Peter Group (K&P), a European leader in building automation software and solutions, based in Berlin, Germany. Trane Technologies is investing in a 49% minority stake in K&P, with an option for Trane Technologies to acquire full ownership after three years.
Additionally, the deal includes a commercialization agreement that enables the companies to collaborate in new ways, selling our highly complementary solutions across our respective customer bases.
We expect the minority investment and commercialization agreement to close in the coming months, pending regulatory approvals. We look forward to sharing more details soon.
About Trane Technologies
Trane Technologies is a global climate innovator. Through its strategic brands Trane® and Thermo King®, and its portfolio of environmentally responsible products and services, the company brings efficient and sustainable climate solutions to buildings, homes, and transportation.
Trane Technologies is widely recognized as a leader in sustainability, integrating sustainable practices into the company’s core strategy and throughout its global operations as it progresses toward its 2030 Sustainability Commitments. Since 2019, Trane Technologies has reduced customer carbon emissions by 237 million metric tons, on track to meet its Gigaton Challenge goal of reducing one gigaton (or one billion metric tons) of customer carbon emissions by 2030.
Learn more at tranetechnologies.com.
About Kieback&Peter
As a Smart Building Solutioneer, Kieback&Peter GmbH & Co. KG combines intelligent building technology, data-based services, and multiple synergy effects to create sustainable solutions. Founded in 1927 in Berlin, the established company with approximately 1,500 employees and 50 locations worldwide thus secures and expands the value of buildings and business models. The result is a real-terms gain with regard to climate and health protection, safety, and social participation.
Kieback&Peter takes care of prestigious national and international projects such as the Cube in Berlin, Charles de Gaulle Airport in Paris, and the Mercedes-Benz engine plant in Beijing.
