Ariston to Acquire Riello, Boosting Climate Comfort and Combustion Expertise

Ariston

ITALY: Ariston Group has signed an agreement with subsidiaries of Carrier Global Corporation to acquire 100 percent of the shares and voting rights of Riello Group SpA and Riello America LLC. The transaction is expected to close in the first half of 2026, subject to customary closing conditions. Riello operates across climate comfort and combustion solutions and has operations in several international markets including Italy, North America, the United Kingdom, parts of Europe, China and Poland.

The agreed enterprise value is EUR 289 million (USD 340 million), on a cash and debt-free basis, representing a multiple of around five times estimated 2026 adjusted EBITDA including run-rate synergies. Riello plans to report approximately EUR 400 million (USD 471 million) in net sales and around EUR 35 million (USD 41 million) in adjusted EBITDA in 2025. Ariston stated that the transaction is expected to be financed through its own funds, with payment to be settled at closing.

Source: Ariston Group