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Blackstone, KKR and BC Partners among bidders for Germany’s Guntner

News & Analysis

Blackstone, KKR and BC Partners among bidders for Germany’s Guntner

Ryan Hesketh, Jin Ni and Laura Thompson1 Oct 2026 | Europe | 1 minute read

Blackstone, KKR, and BC Partners are among the bidders in the sale of German refrigeration firm Guntner Group, according to 9fin sources.

Bidders have submitted second-round offers, they added.

Technology group A-Heat Allied Heat Exchange Technology is the current owner of the business. It mandated Alantra to advise on the sale, marketing Guntner off EBITDA of around €100m, 9fin reported in early September.

Before the sale entered its second round, Advent, Blackstone, Cinven, and KKR were exploring bids that could value Guntner at more than €1bn, Bloomberg reported in September.

Guntner builds air coolers, dry coolers, condensers, and gas coolers used in commercial and industrial refrigeration. It operates across more than 80 countries, served by five factories and three logistics centres.

BC Partners, Blackstone, and KKR declined to comment. A-Heat, Alantra and Guntner did not respond to requests for comment.

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