OTTO is a leading German provider of heating, ventilation, air-conditioning systems.
Founded in 1967, OTTO Luft- und Klimatechnik (OTTO) is a specialist provider of comfort air-conditioning, industrial air-conditioning and clean-room systems. OTTO offers engineering solutions and system installations for shopping centres, hospitals, office buildings, industrial production lines and pharmaceutical laboratories.
Headquartered in Bad Berleburg, OTTO has established ten sites across Germany and a subsidiary in Poland, which are supported by a 700-strong workforce.
Since investment, Equistone has worked alongside the management team to support initiatives that have generated organic growth for OTTO and resulted in revenue increasing from €75m to €119m forecast for the year 2018. These initiatives included:
- Improving the reporting quality and KPI-based management by implementing a new accounting and controlling system.
- Appointing a new CFO to further strengthen the management team.
- Establishing five new branches, which significantly expanded its presence across Germany.
In 2017, Equistone also backed the follow-on investment in Otto Life Sciences Engineering, which expanded OTTO into a new business area focusing on the pharmaceutical, bio-tech and clean room sectors.
Equistone sold its Fund IV investment in OTTO to ENGIE Group, one of Europe’s leading companies for technical building services, facilities management, industrial refrigeration technology and energy services in January 2019. Otto Life Science Engineering was not part of the transaction and continues to be owned by Equistone and management.