April 30 2015
Translink advises Ariston Thermo in acquisition in Denmark
Second M&A assignment completed for Ariston
Translink Corporate Finance announces the acquisition of 100% of Gastech-Energi A/S, a leading company in the field of domestic and industrial heating in Denmark, by Italian multinational Ariston Thermo Group, a worldwide leading company in the heating and water heating sector.
Translink acted as the exclusive financial adviser of Ariston Thermo, with a cross-border team composed of Alberto Parisi Presicce (Partner – Translink Italy) and Henrik Schrøder and Gert Mortensen (Partners – Translink Denmark). This is the second acquisition assignment successfully carried out by Translink for Ariston Thermo, after the acquisition of Heat Tech Geysers Pty Ltd, a South African producer of water-heating systems, in 2014.
Ariston Thermo is a leading multinational company in heating and water heating. In 2014 the Group achieved a total turnover of EUR1.34 billion and sold 7.4 million products in more than 150 countries; it has 6,600 employees, 53 companies and 5 representative offices in 32 countries and 22 production facilities in 12 countries. The Group offers a full range of products, systems and services, mostly under the Ariston, Elco, Chaffoteaux, Atag Heating and Racold brands.
Gastech-Energi A/S is a leading company in the field of domestic and industrial heating in Denmark. Based in Aarhus, Denmark’s second largest city, the company employs more than 150 people and generates annual revenues of around € 26 million.
Through the acquisition, Ariston enters in a market in which it was not directly present and at the same time expects to create significant operational synergies. Gastech-Energi’s management team will continue managing the company and will drive its profitable growth as part of the Ariston Group.
Press OfficeCristina Fagioli
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