The Office for Competition has approved the acquisition of sole control by BT Group Limited of M.A.&A. Services Limited.

The transaction, first notified on 30th June 2025, involves BT Group – owner of BT Commercial Limited, which imports brands such as Gree in the field of air heating, cooling, ventilation, and energy solutions – acquiring M.A.&A. Services Limited, a company active in the supply, installation, and servicing of large-scale HVAC systems in Malta.

Market concerns raised

During the competitive assessment, several third-party operators expressed concern that the merger would consolidate market power, as BT holds a strong position in the residential segment while M.A.&A. leads in the commercial market. Respondents argued that the combined entity could create significant barriers for smaller competitors, limit consumer choice, and potentially lead to higher prices.

In response, BT Group emphasised that the HVAC market in Malta remains highly competitive, with over 30 brands represented by at least 18 operators. It argued that the residential and commercial markets are largely distinct, and that customers can switch suppliers without significant barriers.

Final decision

After assessing market data, customer behaviour, and competitor responses, the Office for Competition concluded that the acquisition does not result in a substantial lessening of competition. Both companies, it found, will continue to face strong competition from a diverse field of operators across residential, commercial, and industrial air-conditioning markets.

The Office also noted that parallel imports and the presence of multiple established distributors continue to exert downward pressure on prices, ensuring that consumers retain a broad choice of products and services.

The deal, formalised through a preliminary binding agreement signed on 5th May 2025, was cleared on 12th August 2025.