LG Electronics is acquiring 100% of OSO, a European company known for its water heating systems. This move supports LG’s goal to expand its HVAC (heating, ventilation, and air conditioning) business, especially in Europe, where demand for air-to-water heat pumps is growing due to energy and climate concerns.
OSO, founded in 1932, makes electric water heaters and stainless steel thermal storage systems. Its products are widely used across Europe, where stainless steel is now preferred over enamel for its durability and hygiene. OSO has manufacturing facilities in Norway and Sweden and uses automated processes to ensure product quality and cost control.
By combining OSO’s water heating products with LG’s heat pump technology, LG plans to offer integrated HVAC solutions that serve a wide range of customer needs. The acquisition will also support LG’s efforts to grow in Europe and other global markets.
OSO will continue to operate independently and maintain its partnerships, while benefiting from LG’s global reach and manufacturing expertise. Both companies aim to improve automation and productivity through joint innovation.
This deal is part of LG’s “3B” strategy Build, Borrow, and Buy to grow its cleantech business. It follows the launch of LG’s ES Company in 2024, which focuses on developing HVAC solutions for both residential and industrial use. The OSO acquisition reflects LG’s ongoing investment in clean energy and smart heating technologies.
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