LU - VE Group
LU-VE Group is an Italian public manufacturer of heat exchange and cooling equipment — air-cooled condensers, air coolers, CO2 gas coolers, liquid coolers, OEM heat exchangers, and thermo glass doors — serving industrial, data center, refrigeration, air conditioning, and energy customers globally through enterprise field sales.
- Company typePublic
- Founded1990
- HeadquartersVarese, Italy
- Headcount1,001–5,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What LU - VE Group does
LU-VE Group S.p.A. is an Italian manufacturer of heat exchange and cooling equipment for the commercial refrigeration, industrial cooling, and air conditioning markets. The company is publicly listed on the Milan Stock Exchange (ticker: LUVE), headquartered in Uboldo (Varese, Italy), and operates production facilities in Italy, the United States (Texas and a newly opened Jacksonville plant), and India. Its product portfolio spans six core categories: air-cooled condensers, air coolers, CO2 gas coolers, liquid coolers, OEM heat exchangers, and thermo glass doors, supplemented by a non-core IoT digital signage line. Named product families include the Vantage FHC/EHC commercial air coolers, Alfa V Mega VXX3 and Alfa V VDD liquid coolers, Alfa Arctigo IS heavy-duty air coolers, the Giant F flat CO2 gas cooler, and Defender CS/LS/ECS industrial air coolers.
The company's underlying technology centers on proprietary heat exchange design, with particular depth in transcritical CO2 refrigeration systems (Giant F) and long-lifetime, minimum-maintenance cooling for data center and industrial applications. Through the 2022 acquisition of a 75% stake in Refrion Group (€8.1M, 7.35x adjusted EBITDA), LU-VE added air-cooled condensers, dry coolers, coils, and nuclear-sector capability. In 2026 the company secured a multi-year supply agreement for data centre cooling worldwide, opened a new spare parts hub, and upgraded the Giant F product line, signalling a deliberate push into hyperscale data center cooling.
LU-VE generates revenue primarily through B2B hardware sales of cooling and heat exchange equipment, executed via direct enterprise field sales across Europe, North America, and India, with quote-based pricing and a self-serve product configurator on plair.it. Customer segments are horizontally diversified across industrial cooling, refrigeration, data centers, air conditioning, energy and power generation, OEM components, and digital signage, with primary verticals in industrial cooling, data centers, and refrigeration. The combination of long-cycle equipment specifications, multi-year supply agreements, and an after-sales/spare parts layer produces a recurring-revenue overlay on top of project-based equipment sales.
LU - VE Group firmographics
Firmographics- Name
- LU - VE Group
- Legal name
- LUVE S.p.A.
- Website
- https://luvegroup.com
- Company type
- Public
- Founded year
- 1990
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- LU-VE Group is an Italian public manufacturer of heat exchange and cooling equipment — air-cooled condensers, air coolers, CO2 gas coolers, liquid coolers, OEM heat exchangers, and thermo glass doors — serving industrial, data center, refrigeration, air conditioning, and energy customers globally through enterprise field sales.
- Ownership category
- akta.pro rank
LU - VE Group industry classification
Industry- Product category
- Commercial Refrigeration and Industrial Air Conditioning Equipment
- NAICS
- Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414), Automatic Environmental Control Manufacturing for Residential, Commercial, and Appliance Use (334512)
- SIC
- Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Refrigeration & Service Industry Machinery (3580)
- akta.pro primary industry
- HVAC Equipment (Heating, Cooling & Air Handling) (IMAHAKAB)
- akta.pro secondary industries
- Heat Exchangers & Thermal Transfer Equipment (IMAHAKAC), Cooling Systems & Thermal Management (CRAC/CRAH, Chillers, Liquid Cooling) (HDABAKAD)
Keywords
Where LU - VE Group is headquartered
LocationHeadquarters
- HQ city
- Varese
- HQ country
- Italy
- HQ region
- Europe
Offices1 record
Markets served
LU - VE Group business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- HVAC&R Equipment Sales: LUVE Group generates revenue through the sale of heat exchange equipment including air-cooled condensers, air coolers, CO₂ gas coolers, liquid coolers, and OEM heat exchangers. The company also sells thermo glass doors and IoT solutions. Revenue is derived from both direct sales and multi-year supply agreements with major customers.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels6 records
LU - VE Group product offering
Product offeringCore offering
LU-VE Group manufactures and sells heat exchange equipment for HVAC&R applications, including air-cooled condensers, commercial and industrial air coolers, CO₂ gas coolers, V-shape liquid coolers, OEM heat exchangers, and thermo glass doors. The company also offers IoT digital signage solutions and supplies cooling equipment for industrial cooling, commercial refrigeration, air conditioning, data centers, energy and power generation, and OEM integration.
Product overview
LU-VE Group is an HVAC&R company offering a comprehensive portfolio of cooling solutions organized into six main product categories: Air Cooled Condensers, Air Coolers, CO₂ Gas Coolers, Liquid Coolers, OEM Heat Exchangers, and Thermo Glass Doors. The company also provides IoT Solutions for digital connectivity applications. The product lineup includes specific product lines such as Vantage FHC/EHC (cubic commercial air coolers), Alfa V Mega VXX3 and Alfa V VDD (V-shape liquid coolers), Alfa Arctigo IS (heavy-duty cubic air coolers), Giant F (flat CO₂ gas coolers), and Defender CS/LS/ECS (cubic industrial air coolers). Applications span industrial cooling, refrigeration, air conditioning, data center cooling, energy & power generation, digital signage, and OEM components. The company operates globally with production facilities in Europe, North America (Texas, Jacksonville), and India.
Differentiator
Problem solved
Functional benefit
Products and services
- Vantage FHC, EHC Hi-Tech cubic commercial air coolers designed for commercial cooling applications, serving businesses that need reliable air cooling for retail, hospitality, and light commercial environments.
- Alfa V Mega VXX3 Hi-Duty Industrial Mega V-Shape liquid coolers engineered for heavy industrial cooling applications requiring high-capacity liquid cooling.
- Alfa Arctigo IS Hi-Duty cubic air cooler designed for heavy industrial applications, providing robust cooling capacity for demanding industrial environments.
- Alfa V VDD Hi-Duty Industrial V-Shape liquid cooler designed for demanding industrial cooling requirements, targeting heavy-duty process and facility applications.
- Giant F Hi-Tech Flat Industrial CO₂ Gas Cooler designed for transcritical CO₂ refrigeration systems, serving industrial and commercial refrigeration applications with energy-efficient performance.
- Defender CS, LS, ECS Hi-Tech Cubic Industrial Air Coolers for industrial cooling applications, providing reliable air cooling solutions for warehousing, processing, and cold storage facilities.
- IoT Digital Signage Solutions Internet of Things digital solutions for connected commercial signage applications including lift cars, hotels, refrigerator doors, gymnasium mirrors, and other digital display use cases.
Quantifiable outcome
- Multi-year supply agreement for data centre cooling solutions worldwide
- +1 more outcomes
Companies that use LU - VE Group
Customer profileSegments7 records
Ideal customer profiles4 records
LU - VE Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
LU - VE Group partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Refrion GroupcoreLUVE Group acquired a 75% stake in Refrion Group, an Italian company specializing in air-cooled condensers, dry coolers, and coils, for €8.1 million. The acquisition aligns with LUVE's sustainability goals and includes an option to purchase the remaining shares over five years. Refrion continues to develop products for the nuclear sector and other markets. The transaction was valued at 7.35 times the company's adjusted EBITDA from 2020-2021.
Scale indicators3 records
Recent moves7 records
Expansion highlights5 records
LU - VE Group competitors and assessment
Company assessmentDirect peers
- Güntner Group: Güntner is a German-headquartered manufacturer of heat exchangers, air coolers, and condensers for HVAC, refrigeration, and industrial cooling applications — almost identical product portfolio to LU-VE across cubic air coolers, gas coolers, and condensers. Both companies serve commercial refrigeration and industrial customers in Europe and globally.
- Kelvion: Kelvion (formerly GEA Heat Exchangers) is a dedicated heat exchanger manufacturer serving HVAC, refrigeration, data center cooling, and industrial applications. Its product portfolio of air-cooled condensers, dry coolers, and chillers directly competes with LU-VE across most application segments.
- Baltimore Aircoil Company: BAC is a US-based manufacturer specializing in evaporative cooling, adiabatic cooling, and heat rejection equipment for HVAC and industrial applications. It directly competes with LU-VE in data center, industrial, and commercial cooling, particularly in North America.
- EVAPCO: EVAPCO is a US-headquartered global manufacturer of heat transfer products including adiabatic coolers, evaporative condensers, and dry coolers for HVAC, refrigeration, and data center applications. It is a direct competitor in the industrial and data center cooling segments where LU-VE is investing.
- Modine Manufacturing: Modine manufactures thermal management and heat transfer products including data center cooling coils, condensers, and air-cooled heat exchangers. Its data center-focused product line, Airedale brand, and heat exchanger offerings make it a direct competitor in LU-VE's strategic growth segments.
- Bitzer: Bitzer is a German manufacturer of refrigeration compressors and related components, serving commercial refrigeration and industrial cooling customers globally. While more compressor-focused, it serves the same commercial refrigeration OEM and end-user customers as LU-VE.
Broad incumbents
- Alfa Laval: Alfa Laval is a large Swedish industrial group with a major heat exchanger business serving HVAC, refrigeration, and process industries, including brazed and gasketed plate heat exchangers. While broader in scope (also food, marine, water), its HVAC&R heat transfer segment overlaps directly with LU-VE's core technology.
- Carrier Global: Carrier is one of the largest global HVAC manufacturers, with extensive product lines spanning commercial air conditioning, refrigeration, and data center cooling. It competes with LU-VE across all commercial and industrial cooling segments but at a vastly larger scale.
- Trane Technologies: Trane Technologies is a major global HVAC manufacturer with strong commercial and industrial cooling portfolios including chillers and air handling units. Its broader portfolio overlaps with LU-VE's commercial air conditioning and data center cooling offerings.
- Daikin Industries: Daikin is a global leader in HVAC and refrigeration with extensive commercial, industrial, and refrigerant product lines. Its scale and vertically integrated refrigerant manufacturing make it a broad incumbent competitor across LU-VE's served markets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights7 records
Customer concentration
LU - VE Group social profiles
Digital presenceLU - VE Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
LU - VE Group leadership team
Management profileNumber of profiles
Profiles3 records
LU - VE Group subsidiaries and ownership
Company hierarchySubsidiaries1 record
LU - VE Group funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
LU - VE Group M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about LU - VE Group
What does LU - VE Group do?
LU-VE Group manufactures and sells heat exchange equipment for HVAC&R applications, including air-cooled condensers, commercial and industrial air coolers, CO₂ gas coolers, V-shape liquid coolers, OEM heat exchangers, and thermo glass doors. The company also offers IoT digital signage solutions and supplies cooling equipment for industrial cooling, commercial refrigeration, air conditioning, data centers, energy and power generation, and OEM integration.
Is LU - VE Group a public or private company?
LU - VE Group is a public company. It is classified as public and is currently operating.
When was LU - VE Group founded?
LU - VE Group was founded in 1990. It employs 1,001 to 5,000 people.
Where is LU - VE Group based?
LU - VE Group is headquartered in Varese, Italy, in the Europe region.
How does LU - VE Group make money?
One revenue line is on record: HVAC&R Equipment Sales.
Who are LU - VE Group's main competitors?
Direct peers on record are Güntner Group, Kelvion, Baltimore Aircoil Company, EVAPCO, Modine Manufacturing and Bitzer. Broad incumbents are Alfa Laval, Carrier Global, Trane Technologies and Daikin Industries.
Does LU - VE Group have an API?
No public API is recorded for LU - VE Group.
What industry is LU - VE Group in?
LU - VE Group's product category is Commercial Refrigeration and Industrial Air Conditioning Equipment. Its primary akta.pro industry code is IMAHAKAB, HVAC Equipment (Heating, Cooling & Air Handling), with a secondary code of IMAHAKAC, Heat Exchangers & Thermal Transfer Equipment. Its NAICS code is 333415 and its SIC code is 3585.