Atlas Copco expands industrial heat pump business with Guangdong Euroklimat deal

Sweden – Atlas Copco has completed its acquisition of Chinese heating and cooling equipment manufacturer Guangdong Euroklimat, expanding its portfolio of industrial heat pumps, chillers and other thermal management equipment.

Guangdong Euroklimat is distinct from Euroklimat S.p.A. in Italy, although the Chinese business was established in 2009 through a joint venture involving the Italian HVAC manufacturer.

The Sweden-headquartered Atlas Copco group operates across compressed air, vacuum, energy and industrial technologies. The Guangdong Euroklimat acquisition, first announced in July, was completed on 2 October.

Guangdong Euroklimat has now become part of Atlas Copco’s Oil-free Air division within its Compressor Technique business area. The purchase price has not been disclosed.

Industrial heat pump portfolio

Atlas Copco said when announcing the transaction that the acquisition would support its development of a more complete range of air- and water-cooled chillers, industrial heat pumps, centralised air handling units and dry coolers.

Guangdong Euroklimat manufactures heating and cooling equipment for industrial applications, including process cooling and energy conversion.

The company operates factory and assembly facilities in Guangdong Province and Tianjin, as well as sales offices in Southeast Asia.

This acquisition will further strengthen our journey towards a complete range of air- and water-cooled chillers [and] industrial heat pumps

Philippe Ernens, business area president, Compressor Technique

Growing thermal management activities

The acquisition gives Atlas Copco a larger manufacturing and product base in China as it develops its industrial heating and cooling activities.

Atlas Copco said Guangdong Euroklimat has also developed monitoring, control and optimisation technologies designed to reduce energy consumption within industrial processes.

At the time the deal was announced, Ernens said the company’s local presence in China, technology and culture made it a good fit for the group.

Guangdong Euroklimat joins Compressor Technique

Guangdong Euroklimat recorded revenue of RMB1.281 billion in 2025 and employs approximately 1,000 people.

Atlas Copco Group reported revenues of SEK168 billion in 2025 and had around 56,000 employees at the end of the year.

The acquisition broadens Atlas Copco’s range of industrial heating and cooling solutions, adding Guangdong Euroklimat’s equipment and control technologies to its existing Compressor Technique portfolio.