TICA Group acquires Sebigas following auction bid award
China-headed HVAC and thermal energy technology provider TICA Group has announced that it, via its Italian subsidiary TICA Exergy S.r.l has secured the acquisition of biogas plant designer Sebigas S.r.l from the Maccaferri Industrial Group for EUR 840 168. TICA was awarded the winning auction bid on June 24, 2020, at the Bologna Court in Italy. This is the second Maccaferri Industrial Group energy company to be acquired by TICA after the acquisition of Exergy S.p.A., in September 2019.
Founded in 1991, TICA is a high-tech enterprise specialized in the development, manufacturing, sales, and services of environmentally friendly HVAC systems and thermal energy solutions. With manufacturing plants, R&D facilities, and sales & services branches across all major markets of the world, TICA is now one of the top four Chinese brands in the commercial HVAC industry.
In 2015 the company entered into the power generation market signing a global strategic JV with US-based United Technology Corporation (UTC), transferring UTC’s Organic Rankine Cycle (ORC) business, IPs, and its PureCycle products to TICA. In 2019 TICA acquired from Maccaferri Industrial Group the Italian ORC designer and supplier Exergy S.p.A.
Having supplied 80 plants with a combined installed electrical capacity of 70 MWe, Sebigas has also achieved a record of 8 700 hours per year of non-stop operation at maximum power output. The Sebigas acquisition includes all the assets and personnel, its project references, and know-how.
The headquarters and offices of Sebigas will remain in Olgiate Olona, Italy alongside TICA Exergy a leader in new-generation Organic Rankine Cycle (ORC) power plant design and manufacturing.
Combing the strengths and specific know-how that TICA, Exergy, and Sebigas will enable TICA Group to become a stronger and more competitive player in the global renewable energy market and contribute to achieving the decarbonization targets advocated by governments, scientists and the environmental associations.
I’m delighted that we were able to acquire the assets of Sebigas. We believe that Sebigas has a very competent team of engineers, able to deliver the best solutions to our customers in the biogas market. We shall re-establish its market presence soonest possible. Also, Sebigas shall leverage the technical and marketing resources of Exergy and TICA to explore more business opportunities in various market sectors as well as reaching out its customers to wider territories particularly in the Far East market, commented Jiang Li, Chairman of TICA Group.