Copeland acquired SPH Sustainable Process Heat: the advisors

Baker McKenzie has advised Copeland, a global leader in sustainable climate solutions, on the acquisition of SPH Sustainable Process Heat, a Germany-based technology company specializing in industrial heat pump systems. The transaction is expected to close by the end of 2025, subject to customary closing conditions.

Spirax Group, a leading steam solutions company, currently holds – and will continue to retain under Copeland’s ownership – a minority shareholding in SPH.

“We are delighted to have supported our client Copeland in this significant transaction with our experienced team. By integrating SPH, Copeland not only expands its portfolio with innovative, sustainable heating solutions for industrial applications but also reinforces its position as a leading provider of energy-efficient climate technologies. This enables Copeland to respond more effectively to the growing demand for environmentally friendly and high-performance heating systems and to make an important contribution to the decarbonization of industrial processes,” commented Dr. Florian Kästle (PICTURED), one of the lead partners on the transaction.

Headquartered in St. Louis, Missouri, USA, Copeland helps customers and end users reduce CO₂ emissions, improve energy efficiency, enable the use of climate-friendly refrigerants, and protect perishable foods and pharmaceuticals. The company employs around 18,000 people in more than 40 countries, operates development and manufacturing facilities in nine countries, and has technology proven in over 200 million installations worldwide. Copeland holds more than 3,400 active and pending patents.

Based in Overath, North Rhine-Westphalia, SPH provides customers with sustainable, heat pump–based steam solutions designed to meet a wide range of temperature, capacity, and refrigerant requirements. The company specializes in the development, production, and maintenance of industrial heat pumps for steam applications at temperatures of up to 180°C.

The team from Baker McKenzie was composed of:

• Lead:
  Corporate/M&A – Dr. Florian Kästle (Partner, Frankfurt), Daniel Dehghanian (Partner, Düsseldorf)

• Team:
  Employment – Dr. Felix Diehl (Partner), Dr. Sebastian F. Pfrang (Senior Associate), Jan Kammler (Associate, all Frankfurt)