Multi-Wing Group A/S has acquired 100% of the shares in VIP Air Empowerment Srl, a long-time customer of Multi-Wing’s impellers with a strong position in the Italian axial fan solution market. This acquisition will contribute significantly Multi-Wing’s transition to fan solutions, and underlines its commitment to build high performance axial fan solutions.

VIP Air Empowerment, founded in 1985 by Fasolini family, has established a strong position in the Italian HVAC&R axial fan solution market owing to its focus on development and innovation. VIP Air Empowerment has experienced a significant growth in recent years thanks to constant investments in new technologies and innovative solutions. As part of the deal, Fasolini family will remain firmly at the helm of the company, continuing to make its contribution to the growth path already started in recent years.

Founded in 1938, Multi-Wing is a global market and technology leader in custom-engineered axial flow fans for HVAC/R and engine cooling applications, with 2022 revenues of € 140 milion. Headquartered in Denmark, Multi-Wing has a global presence with manufacturing and distribution facilities in North America, Europe and Asia Pacific. Customers include a long list of the world’s leading OEMs in a wide range of applications including construction and agricultural vehicles, wind turbines, cooling towers, condensers, generator sets and industrial ventilation. In 2021, Swedish private equity Altor Equity Partners acquired a majority stake in Multi-Wing Group to support the vision of developing Multi-Wing into a world-leading fan solutions provider and technology winner for both HVAC and engine cooling applications.

The shareholders of Vip Air Empowerment were assisted by Equita K Finance, the Italian member of Clairfield International and part of the EQUITA Group, which acted as financial advisor, and by Squire Patton Boggs as legal advisor.
Multi-Wing Group A/S was assisted by the law firms Chiomenti and Kromann Reumert for the legal and contractual aspects and by PwC for the accounting aspects.

Jesper Bernhoft, CEO of Multi-Wing, said: “I am thrilled about the opportunities that lie ahead as Multi-Wing and VIP finally join forces. Combining our 65+ years of aerodynamic expertise and modular axial impeller portfolio with VIP’s long-time focus on fan solutions, integrated setup, and very strong product portfolio makes this combination highly synergistic and a strong enabler for our long-term vision. I look forward to welcoming everyone in VIP into the Multi-Wing family.”

Fausto Fasolini, CEO of Vip Air Empowerment, said: “With this operation, we are pleased to guarantee Vip and the people who are part of it constant growth, with the possibility of proposing themselves to new markets with Multi-Wing. The Fasolini family will continue to be part of the management process, ensuring the usual flexibility and capacity for innovative solutions to its customers”.