Deal Announcement

DC Advisory acted as financial adviser to Daikin on its acquisition of Zanotti

05 Jul 2016

Daikin Industries, Ltd. (Daikin), headquartered in Osaka, Japan, is an innovative manufacturer of energy saving air conditioning and refrigeration equipment and solutions, with global revenues of c.$15bn and a market capitalisation of c.$24bn

DC Advisory (DC) was engaged by Daikin to advise on the acquisition of Zanotti

DC’s significant experience in the HVACR sector coupled with our expertise in bridging the cultural gap between an Asian corporate and an Italian entrepreneur-owned and managed business was crucial to achieving a successful outcome on a bilateral basis

On 28 April 2016, Daikin entered into an agreement to acquire Zanotti for €98m

The transaction is expected to complete by the end of June 2016

Deal Team

Michael Mariaz

Managing Director
United Kingdom

Tosh Kojima

Managing Director
United Kingdom

Gary Hancock

Executive Director

Michael Mariaz, Managing Director at DC Advisory, commented: “Zanotti is an attractive company with an impressive track record of growth. The acquisition is part of Daikin’s strategy to grow its refrigeration business on a global basis and further evidences the technology convergence and international consolidation taking place in the HVACR industry. Having advised on 16 deals in the sector since 2012, DC has unrivalled expertise in delivering strategic transactions embodying this trend.”

Tosh Kojima, Managing Director at DC Advisory, commented: “Daikin’s acquisition of Zanotti represents DC’s tenth Asia into Europe transaction since the start of 2015, showcasing our unparalleled ability to advise on complex Asia-Europe transactions. The DC team is particularly proud to have served Daikin, an important global client of Daiwa Group.”