Copeland Expands Industrial Heat Pump Portfolio with Agreement to Acquire SPH Sustainable Process Heat

Acquisition enhances Copeland’s industrial heating portfolio

Copeland, a global leader in sustainable climate solutions, today announced its agreement to acquire SPH Sustainable Process Heat (SPH), a Germany-based industrial heat pump technology company. This acquisition is expected to expand Copeland’s industrial heating portfolio, allowing the company to deliver a broader range of key heat pump technologies and solutions to new and existing customers. Copeland’s industrial business operates under the brand name Vilter. SPH will continue to operate independently until closing.

This acquisition reinforces Copeland’s commitment to enabling the energy transition, in this case, through innovative technologies that enable industrial customers to replace fossil-fuel systems with more energy-efficient heating alternatives. SPH brings a strong technology portfolio, including its innovative ThermBooster™ technology, and demonstrated capability in delivering solutions to a broad range of industrial end-markets.

Headquartered in Overath, Germany, SPH helps customers with sustainable, heat-pump-based steam solutions that meet a wide range of temperature, capacity and refrigerant needs. SPH specializes in designing, manufacturing and servicing heat pumps for industrial steam applications for temperatures up to 180 degrees Celsius, with solutions that can utilize a wide range of natural and low global warming potential refrigerants.

This transaction is expected to expand Copeland’s Vilter industrial heating portfolio by serving process segments that demand higher-temperature steam. It will also expand the range of supported refrigerants, enabling optimized performance and efficiency, as well as cost-effective ownership and the potential to reduce emissions for industrial customers, depending on system growth design and operating conditions. Driven by strong end-market growth and technological leadership, forecasts have estimated that the European steam heat pump segment is poised for as much as double-digit growth over the coming years.

“The addition of SPH’s team and its differentiated technologies will enable us to serve a broader range of customers and applications,” says Ross B. Shuster, Copeland’s chief executive officer. “This broader portfolio positions Copeland well to expand our rapidly growing industrial business by helping address the world’s increasing demand for sustainable heating solutions.”

“We are truly excited to join the Copeland team,” said Andreas Muck, Tim Hamacher and Tor Hodne, founders of SPH. “By combining our high-temperature heat pump technology with Copeland’s expansive reach and expertise, we can help a broader range of industrial customers accelerate their transition to cleaner, more energy-efficient heating. Together, we’re committed to advancing global sustainability and empowering industries to meet ambitious electrification goals.”

The transaction is expected to close by the end of 2025, subject to customary closing conditions. Spirax Group (LON: SPX), a leader in steam solutions, currently holds and will continue to maintain a minority share in SPH under Copeland ownership. Through its Steam Thermal Solutions Business, Spirax Group intends to broaden SPH’s existing sales channels by marketing SPH’s heat pump solutions through its direct sales channel.

This announcement includes forward-looking statements regarding the proposed acquisition and its expected benefits. Actual results may differ due to market conditions or other factors. Copeland undertakes no obligation to update these statements.

About Copeland

Copeland is a global leader in sustainable heating, cooling, cold chain and industrial solutions. We provide mission-critical compression technologies and controls solutions for a broad range of commercial, industrial, refrigeration and residential customers. We address issues like climate change, growing populations, electricity demands and a complex global supply chain with innovations that advance the energy transition, accelerate the adoption of climate friendly low-GWP (global warming potential) and natural refrigerants and safeguard the world’s most critical goods through an efficient and sustainable cold chain. We have over 18,000 colleagues with feet on the ground in more than 40 countries – a global presence that makes it possible to serve customers wherever they are in the world and meet challenges with scale and speed. Our industry-leading brands and diversified portfolio deliver innovation and technology proven in over 200 million installations worldwide. Together, we create sustainable solutions that improve lives and protect the planet today and for future generations. For more information, visit copeland.com.

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