|By Business Wire||
|August 19, 2014 04:00 AM EDT||
Samsung Electronics America, Inc. announced that it has agreed to acquire Quietside Corporation, a leading distribution channel for heating, ventilation and air conditioning (HVAC) products. Quietside has been the master distributor for Samsung HVAC products in the US and Canada since 1997.
The acquisition will provide Quietside with greater access to Samsung’s wide range of cost effective and energy efficient HVAC products, including its industry-leading DVMS System with the highest efficiency ratings. As a result of the acquisition, Quietside will be increasing its personnel and infrastructure investment in North America in order to serve the continuing rapid expansion of the split ductless and VRF product categories.
Samsung expects to further strengthen its sales operations in North America, particularly in the B2B space. The company also plans to unveil an enhanced HVAC product lineup that better reflects the needs of North American customers.
Sang Lee, the founder of Quietside, will remain as CEO and will have operational responsibility for the company. Mr. Lee has 29 years of experience in the North American HVAC market.
“Samsung is excited to deepen our long relationship with Quietside by making this acquisition,” said Tim Baxter, president of Samsung Electronics America. “Samsung always looks to bring innovation and new technology to our customers and we look forward to working with Sang and his team to bring that same commitment to selling HVAC products to customers across North America.”
“The acquisition of Quietside by Samsung provides a terrific benefit to our customers and employees,” said Sang Lee. “The rapid growth of our product categories in North America provides a great opportunity for us to scale our business rapidly to meet the needs of the market. The operational capabilities of Samsung and the strength of the Samsung brand will mean incredible opportunities for us all going forward.”
The company will continue to be headquartered in the Dallas/Fort Worth area.
About Samsung Electronics America, Inc.
Headquartered in Ridgefield Park, NJ, Samsung Electronics America, Inc. (SEA), is a recognized innovation leader in consumer electronics design and technology. A wholly owned subsidiary of Samsung Electronics Co., Ltd., SEA delivers a broad range of digital consumer electronics and IT products. Samsung is the market leader for HDTVs in the U.S. To discover more, please visit www.samsung.com.
About Samsung Electronics Co., Ltd.
Samsung Electronics Co., Ltd. is a global leader in technology, opening new possibilities for people everywhere. Through relentless innovation and discovery, we are transforming the worlds of TVs, smartphones, tablets, PCs, cameras, home appliances, printers, LTE systems, medical devices, semiconductors and LED solutions. We employ 286,000 people across 80 countries with annual sales of US$216.7 billion. To discover more, please visit www.samsung.com.
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