BDR Thermea Completes Acquisition of G.I. Holding

BDR Thermea Completes Acquisition of G.I. Holding

Netherlands / Italy: BDR Thermea has completed the acquisition of 100% of Italy-based G.I. Holding, following its initial purchase of a 25% minority stake in the company in 2023. The acquisition expands BDR Thermea's presence in the commercial and industrial HVAC market and supports its Strategy 2030, which focuses on integrated heating and cooling solutions, connected technologies and after-sales services. G.I. Holding manufactures HVAC solutions for commercial and industrial applications through brands including CLINT, KTK KLIMATECHNIK, NOVAIR and MONTAIR.

The acquisition strengthens BDR Thermea's manufacturing footprint in Italy by adding G.I. Holding's production facilities in Friuli Venezia Giulia to its existing BAXI operations in Bassano del Grappa. Around 300 G.I. Holding employees across Italy, Hungary, Malaysia and the UAE have joined BDR Thermea, which operates more than 6,500 employees across over 50 countries. Alberto Favero has been appointed Managing Director of G.I. Holding while continuing in his role as Managing Director of BDR Thermea Italy.

Source: BDR Thermea