ITALY/GERMANY: Italian air conditioning manufacturer Aermec has acquired its German distributor Novatherm.
Novatherm was formed in 1978 and is based in Ratingen, near Dusseldorf. The company has been an Aermec distributor for over 25 years.
Announcing the purchase of a controlling stake in the company, Giordano Riello, chairman of the Giordano Riello International Group and founder of Aermec, said “This important acquisition is a part of our Group’s process of strengthening its distribution and internationalisation. The German market has from the start always been one of our major areas of interest.”
President of Aermec Alessandro Riello, said: “This operation adds another important element in support of our sales network. Novatherm GmbH adds to our directly controlled network that includes Aermec UK, Aermec France, Aermec Polska, Aermec Russia and Aermec GmbH which has already been operating in Bavaria and Baden-Württemberg for years.”
Owner of Novatherm Götz Heymann will remain as a shareholder and managing director.
Manufacturing its first air conditioner in 1961, Aermec is considered one of the first air conditioning manufacturers in Europe.