April 14 2014
Translink advises Ariston Thermo in South African acquisition
Translink Corporate Finance announces the acquisition of Heat Tech Geysers Pty Ltd, the second South African producer of water-heating systems, 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 John Blake and Mario Oriani-Ambrosini (Partners, Translink South Africa) and Alberto Parisi Presicce (Partner – Translink Italy).
Ariston Thermo is a leading multinational company in heating and water heating. In 2013 the Group achieved a total turnover of EUR1.33 billion and sold 7.2 million products in more than 150 countries; it has 6,600 employees, 45 companies and 7 representative offices in 31 countries. The Group offers a full range of products, systems and services, mostly under the Ariston, Elco, Chaffoteaux and Racold brands.
Based in Centurion, Heat Teach Geysers is the fastest-growing South African manufacturer of water-heating systems. The company was founded in November 2011 by industry veteran Ms Suraiya Noormahomed and rapidly established itself as the second local geyser supplier. It has generated EUR15m revenues in 2013, a strong growth compared to 2012. Its customers include South Africa’s largest mass-market retailers.
The South African water heating market is expected to grow at a rate of 8% per year and South African water heating companies are well positioned to supply the fast growing sub-Sahara African market. Through the acquisition of Heat Teach Geysers, Ariston aims to establish itself as mayor player in this fast-growing developing market
Press OfficeCristina Fagioli
T. +39 02 94555600
- "The Translink team executed the entire transaction process. I can warmly recommend them for any Corporate Finance-assignments"
Chairman of the Board, Anneli Koivunen,
- "Translink’s advisory ensured successful sales process completion with the terms that satisfied all the owners."
CEO and founder, Tomi Pulkki,
- "Translink Peakstone’s thoughtful guidance and dedication throughout the entire process were critical to achieving a very successful outcome that met all of our transaction objectives."
CEO, Mike Gibney,
- "Translink is a determined advisor. The outcome of the transaction was in line with our expectations. I believe the transaction will ensure Amomatic even better chances for continuous growth and development"
Former Chairman of the Board,
Olavi Ruokonen, Amomatic Oy
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