Viessmann Generations Group completes acquisition of KPS Global

Reinforcing KPS Global's Commitment to Customers and Growth as Industry Leader

Fort Worth, TX – October 1, 2024 – The Viessmann Generations Group ("Viessmann"), a purpose-driven family company with a heritage of 107 years, acquires US-based KPS Global LLC ("KPS Global"), a leading provider of custom enclosures for controlled environments.

The Viessmann Generations Group is a global, broadly diversified and purpose-driven family company founded in 1917. The family-owned investment firm focuses on growth potential, with a long-term outlook. The investment is contributing to Viessmann's purpose of "co-creating living spaces for generations to come" and an important strategic expansion step for the Group's Clean & Cold platform into the North American market.

"KPS Global and Viessmann are a perfect match. The KPS Global business directly contributes to our vision to reduce CO2 emissions and improve the quality of life for the world's growing population. Our strong European footprint in Clean & Cold offers opportunities to leverage each other's knowledge and expertise," says Max Viessmann, CEO of Viessmann. "KPS Global is a strong addition to our ecosystem. We look forward to expanding our Clean & Cold North America platform together with the experienced and proven KPS Global management team to grow within and beyond its core markets and drive value creation organically and inorganically, in line with our purpose of co-creating living spaces for generations to come."

"We are excited about this opportunity as we believe this relationship will allow us significant growth while maintaining our commitment to our customers, employees and vendors," notes Mike Eakins, CEO of KPS Global.

Eakins continues, "The strong focus KPS Global has on transforming clean and cold solutions to increase energy efficiency and reduce food waste directly contributes to the Viessmann values to co-create living spaces for generations to come. The stability and long-term commitment of a family office owned investment firm is really exciting as it allows us to continue to innovate in the market and offer our customers leading edge sustainable solutions."

Since December 2015, KPS Global has been a privately-owned company held by D Cubed Group LLC. KPS Global will continue operations as normal through their five strategically located manufacturing facilities.

About KPS Global®

KPS Global is the market leading provider of end-to-end solutions for custom enclosures for controlled environments, with the most extensive value chain coverage across design, engineering, installation and after-market services. Since its creation by D Cubed Group in 2015, it has been built into the clear leader throughout the food retail end market and expanded significantly into the scientific and cold storage markets. The company has five strategically located manufacturing facilities to serve customers anywhere in the world. Headquartered in Fort Worth, Texas, KPS Global is a privately held company with more than 850 employees.

About Viessmann Generations Group

Founded in 1917, the independent family company Viessmann is today a global, broadly diversified Group. All activities are based on the company's purpose "We co-create living spaces for generations to come". This is the passion and responsibility that the large worldwide Viessmann family brings to life every day. Viessmann forms an ecosystem of entrepreneurs and co-creators with a clear focus on CO2 avoidance, CO2 reduction and CO2 capturing.

Contact

For KPS Global:

Ashleigh Martin

ashleigh.martin@KPSGlobal.com

817-437-3965

For Viessmann Generations Group:

Byung-Hun Park

huni@viessmann.com

+49 151-64911317