Carel Industries to Acquire Denmark's Cotes

11:58 PM EDT, 07/12/2026 (MT Newswires) -- Carel Industries (CRL.MI) said July 10 it will buy Cotes, a Denmark-headquartered industrial adsorption dehumidification specialist. The deal, which includes Tørbåd ApS, values the businesses at an enterprise value of 419 million Danish kroner. The actual cash-out will be based on limited price adjustments made at the time of the deal's closing. The Italian air-conditioning, refrigeration, and heating systems company expects to close the transaction in the third quarter, subject to customary closing conditions, including regulatory approvals.