[Alpha Biz= Kim Jisun] SEOUL, June 30, 2025 – LG Electronics announced it has signed an agreement to acquire 100% of OSO Hotwater Group, a leading Norwegian premium hot water solutions provider, in a deal reportedly worth several hundred billion Korean won.


Founded in 1932, OSO specializes in stainless steel hot water storage tanks and electric water heaters, and currently holds the No. 1 market share in Europe for stainless water storage systems.


The acquisition marks LG's strategic push to strengthen its heating, ventilation, and air conditioning (HVAC) portfolio amid rapid growth in the AI era and global demand for energy-efficient systems. By integrating OSO’s water storage solutions with LG’s high-efficiency air-to-water heat pumps, the company aims to deliver optimized, all-in-one HVAC and hot water packages for the European market.



This move also responds to Europe’s accelerating transition away from fossil fuels. Heat pump systems, which extract heat from the air to provide space heating and hot water, require reliable water storage units. Until now, LG had relied on third-party OEMs for this component, but the acquisition enables vertical integration of production and greater product innovation.



LG plans to expand its lineup to include integrated indoor units with water storage and dedicated heat pump water heaters, leveraging OSO’s infrastructure and distribution network to scale across Europe.



An LG spokesperson noted, “This acquisition enhances our ability to offer total HVAC solutions, reinforcing our competitiveness in Europe and accelerating our global growth in this sector.”

 

 

 

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