BDR THERMEA GROUP STRENGTHENS STRATEGIC PARTNERSHIP WITH G.I. HOLDING, EXPANDING ITS OFFERING OF ENERGY TRANSITION SOLUTIONS FOR COMMERCIAL AND INDUSTRIAL CUSTOMERS.
Latisana, 5 September 2023
BDR Thermea Group, the global provider of smart indoor climate solutions, is acquiring a 25 percent stake in G.I. Holding, a market leader in renewable energy-powered commercial and industrial climate solutions.
Headquartered in Latisana, Italy, G.I. Holding manufactures and markets a range of heat pumps, liquid chillers, air handling units, rooftop-packaged units and fan coil units under the brand names of CLINT, KTK KLIMATECHNIK, and NOVAIR applied in comfort and process applications. The company also offers tailor-made cooling systems for server rooms and IT cooling applications under the brand of MONTAIR, and specialises in the use of low-global warming potential (GWP) and natural refrigerants.
G.I. Holding has 300 employees and manufacturing plants in Italy and Hungary. Its solutions are sold in more than 70 markets. In the partnership, G.I. Holding and its brands will continue to operate under their existing names. Since 2020, BDR Thermea Group has been offering G.I. Holding’s medium- to high-capacity heat pumps under the BAXI brand in Italy, Spain and Portugal.
The strategic partnership enables BDR Thermea Group to expand its offering of commercial, industrial and multi-dwelling residential heating and cooling solutions and provide G.I. Holding’s cutting-edge technology to customers in more markets. The companies will also collaborate in R&D to expand their portfolio of energy transition solutions for customers.
Commenting on the deal, Bertrand Schmitt, CEO of BDR Thermea Group, says: “Through this partnership, we speed up our capabilities and can offer our customers access to G.I. Holding’s electric-powered technology. The energy transition is in full swing, and electrification plays a key role in the decarbonisation of heating and cooling. I look forward to a great collaboration and partnership with G.I. Holding to better serve our customers in commercial buildings and build a sustainable future together.”
Paolo Baldissin, CEO of G.I. Holding, adds, "By joining forces with BDR Thermea Group – another multi-brand powerhouse – we can integrate and complement our comfort solutions, extend our OEM collaboration with the Group, and initiate R&D synergies to develop future products and systems strengthening our low-GWP and natural refrigerants portfolio.
G.I. Holding Group
G.I. Holding is a leading manufacturer of HVAC solutions for commercial and industrial applications. The company distributes renowned brands CLINT, KTK KLIMATECHNIK, NOVAIR, and MONTAIR. G.I. Holding strategically targets the European, Middle Eastern, and Southeast Asian markets and operates production facilities in Italy and Hungary, while also maintaining offices in Malaysia and the UAE. The company employs 300 dedicated professionals. G.I. Holding achieved a total turnover of 73.5 million euros in 2022 and realized a strong growth of 20% in the first half of 2023. See also www.giholding.it.
BDR Thermea Group
BDR Thermea Group is a leading manufacturer of smart indoor climate solutions for domestic and commercial use. The company employs more than 6,800 people and operates in more than 100 countries worldwide. BDR Thermea Group, which realised a turnover of EUR 2.2 billion in 2022, serves customers under renowned market-leading brands including BAXI, De Dietrich, Remeha, Brötje, Chappée and Baymak. Its headquarters are in Apeldoorn, the Netherlands. See also www.bdrthermeagroup.com.