Aira acquires Italian contractors group
28th June 2023
ITALY: Swedish heat pump start-up Aira has acquired the the T5 Group of Italian plumbing, heating and air conditioning and electrical contractors.
Stockholm-based investment group Vargas announced its entry into the European heat pump market earlier this month with Aira, a direct-to-consumer company offering heat pumps on a monthly subscription.
It was announced that Aira was piloting in Italy, with launches scheduled for Germany and the UK in the autumn.
As part of that launch in Italy, it can be revealed that Aira has acquired the T5 Group, which was formed from the acquisition of service and maintenance company Panzini Srl by contractor Termocinque in 2021. The most recent accounts show a turnover of nearly €10m with a pre-tax profit of €1m. The long-established companies are based in the provinces of Camerano and Sirolo in the Ancona region.
Heading up the Italian operation is Mats Ulriksson, founder and CEO of a Swedish manufacturer of handcrafted leather goods. He was recruited by Vargas last year as managing director Italy and now becomes CEO of Aira Italy.
He is supported by Filippo Luna who was CEO of Termocinque-Panzini and now becomes director of service operations in Italy.
Technology deal
Further to the recent report of the technology deal with Swedish heat pump manufacturer ES Energy Save Holding AB, Aira has confirmed that ES Energy Save has now fully tested and certified a brand new R290 range, although it is not yet officially launched. “When Aira launch our new range of products we will use R290. Additionally, Energy Save are now working through their own launch plan for these new products,” an Aira spokesperson said.
Related stories:
Manufacturer signs technology deal with heat pump start-up Aira – 25 June 2023
SWEDEN: Swedish heat pump company ES Energy Save Holding AB claims to have signed a technology agreement with Aira, the Swedish start-up offering heat pumps on a monthly subscription. Read more…
Aira is new challenger in heat pump market – 18 June 2023
SWEDEN: Stockholm-based investment group Vargas has announced its entry into the European heat pump market with Aira, a direct-to-consumer company offering heat pumps on a monthly subscription. Read more…
