LG acquires Norwegian premium water heating solutions company OSO

By: Trademagazin Date: 2025. 07. 10. 10:23

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LG Electronics (LG) is acquiring 100 percent of OSO, a leading European water heating solutions company based in Norway. The strategic acquisition further strengthens LG’s comprehensive heating, ventilation and air conditioning (HVAC) portfolio and accelerates the company’s goal of becoming a leading player in the HVAC market.

Founded in 1932, OSO develops, manufactures and markets a full range of water heating solutions, including electric water heaters, stainless steel thermal storage systems for heat pumps and boilers, and other innovative water heating technologies. OSO is a recognized leader with a strong presence in the $15 billion European market for heating and hot water solutions.

Demand for HVAC and water heating systems is growing

Demand for air-to-water heat pump (AWHP) systems, which harness the heat energy of ambient air for heating, cooling and hot water production, is growing rapidly in Europe. According to BRG Building Solutions, the European heat pump market is expected to double by 2030, with annual sales of around 1.2 million units in 2024 set to grow to 2.4 million by the beginning of the next decade. This growth is driven by the region’s climate policy, energy supply and energy security challenges.

By combining OSO’s product offering with LG’s advanced heat pump technologies, LG will be able to offer customers integrated, complete HVAC and water heating packages that provide optimal solutions tailored to their diverse needs. The two companies will also join forces in research and development, combining their expertise in heat pumps and water heaters for future product developments. The acquisition will further strengthen LG’s competitiveness in Europe, supporting the company’s global expansion strategy.

OSO will continue to operate independently following the acquisition, maintaining its existing OEM partnerships and seeking new growth opportunities, while continuing to ensure stable and timely delivery of high-quality products in the region with its manufacturing facilities in Norway and Sweden. LG aims to build on OSO’s capabilities and continue to innovate in manufacturing together with the company, while leveraging its own expertise of over 60 years, to enhance automation and productivity.

“Building on LG’s expertise in heat pump water heaters and OSO’s leadership in stainless steel tanks, together we can provide customers with exceptional quality, long-lasting and sustainable solutions,”

said Sigurd Braathen, owner of OSO Group AS.