LG acquires Norway’s OSO to strengthen HVAC portfolio

LG Electronics has signed an agreement to acquire a 100 percent stake in OSO, a Norway-based water heating solutions providers. The acquisition will further fortify LG’s heating, ventilation and air conditioning (HVAC) portfolio. 

OSO offers a complete range of water heating solutions, including electric water heaters, stainless steel thermal storage systems for heat pumps and boilers, and other advanced water heating technologies.  

By combining OSO’s product lineup with LG’s advanced heat pump technologies, the acquisition creates immediate synergies. This integration will further enhance LG’s ability to deliver complete HVAC solutions, strengthen its competitiveness in Europe and support its broader global expansion strategy, LG said in a media release.

LG plans to offer integrated HVAC and water heating packages that deliver optimized solutions tailored to diverse customer needs. Furthermore, LG will combine its R&D and heat pump expertise with OSO’s deep product knowledge to broaden and elevate its overall HVAC solution portfolio.

Following the acquisition, OSO will continue to operate independently, retain its existing OEM partnerships and pursue new growth opportunities while benefiting from LG’s global scale and resources, the media release said.

“LG’s deep know-how in Heat Pump Water Heaters in combination with OSO stainless steel tank leadership will ensure sustainable, high-quality product solutions for our customers,” said Sigurd Braathen, Owner of OSO Group AS.

“OSO’s proven water heating solutions are a strategic catalyst for LG’s HVAC expansion,” added James Lee, president of the LG ES Company. “Together, we will deliver highly efficient, integrated solutions that strengthen our market leadership and support global electrification for a more sustainable future.”