Uponor transaction to close: Strong focus on value creation and attractive end markets with new piping systems setup

After all conditions of the tender offer have been fulfilled, GF closes the transaction as of 13 November 2023. 

To accelerate the implementation of GF Piping Systems’ Strategy 2025 and to further benefit from global megatrends, GF will start an ambitious value creation program to unleash the full potential of this acquisition. GF Piping Systems will focus on the industrial and utility business, providing its customers with sustainable leak-free piping solutions for numerous end markets such as microelectronics, water treatment, energy, chemical processing, marine, data centers or water & gas utilities. Uponor's infrastructure business will become part of GF Piping Systems and will further strengthen the division’s portfolio to provide customers with combined solutions. In the new division 

GF Uponor, the building technology businesses will be combined to offer a complementary portfolio for safe and clean water, as well as energy efficient heating and cooling. The consolidation of complementary businesses provides an ideal platform to develop markets with high potential for both divisions. As the brand Uponor stands for high quality and innovation, it will drive growth in intelligent Building Flow Solutions.

These organizational changes will be implemented during the course of 2024 while GF will ensure operational excellence and business continuity to customers. 

“We will continue to implement our strategy, and leverage powerful global trends, such as the need for safe and clean water, or more efficient energy use,” GF CEO Andreas Müller said. “On behalf of all my colleagues, I am happy to welcome Uponor employees and start this new chapter together.”

Uponor Corporation’s President and CEO Michael Rauterkus will become a member of GF’s Executive Committee as President of the GF Uponor division.

“I am proud to continue to steer GF Uponor together with my leadership team. The combination of our businesses will bring more exciting opportunities and will allow us to serve our existing and new customers even better. Together we are creating a global leader in sustainable water and flow solutions. We are looking forward to a bright and successful journey together,” Michael Rauterkus said.

With its four divisions, GF will continue to actively pursue its vision to become a sustainability and innovation leader providing superior customer value. 

Important dates:

• Flow Solutions Day for Investors & Media in Schaffhausen (Switzerland): 16 November 2023
• Annual Media and Financial analysts conference in Zurich (Switzerland): 19 March 2024
• Annual Shareholder's Meeting in Schaffhausen (Switzerland), 17 April 2024

For further information please contact

Media Enquiries GF
Beat Römer, Head Corporate Communications
+41 (0) 79 290 04 00, media@georgfischer.com

Media contacts GF in Finland:
Niko Vartiainen, Principal Consultant, Tekir Ltd
+358 (0) 50 529 4299, niko@tekir.fi

Investor Relations GF
Nadine Gruber, Head Investor Relations
+41 (0) 79 698 14 87, ir@georgfischer.com

Investor Relations/Media Uponor
Franciska Janzon, Senior Vice President, Corporate Communications/IR
+358 (0) 20 129 2821, franciska.janzon@uponor.com