DiversiTech acquires Italian fittings group
15th November 2023
ITALY/USA: DiversiTech, the US HVACR component manufacturer and supplier, has acquired three Italian component manufacturers and suppliers from Italian investment group Ethica Global Investments.
The acquisition of the GIA Group, a leading company in Italy for fastening systems and components, includes three separate companies – GIA SpA, Niccons Italy Srl and Vorpa Srl. The group achieved pro-forma revenues of €41m in 2022.
The purchase will significantly enhance the product range and service available from DiversiTech Europe, the new subsidiary business formed following DiversiTech’s acquisition last year of Belgium-based Castel Engineering and its sister companies Artiplastic of Milan and Rodigas of Padua, Italy.
The combined company will have over 300 employees, three distribution centres and six manufacturing plants in Europe that complement DiversiTech’s seven manufacturing operations in North America.
GIA SpA was founded in 1978 and is based in Trecate, near Novara in northern Italy. Widely recognised as a leading producer in the fixings field, Gia products are available across Italy.
Based in Vicenza, Niccons Italy Srl was established in 1998 and offers a wide range of plastic and metallic refrigeration and air conditioning system components, including ducts and fittings, brackets, condensate pumps, copper pipe and accessories, grilles and ventilation systems.
Vorpa is another anchors and fixings company based in Riccione, near Rimini on the east coast of Italy. A family-owned company established in 1974, Vorpa exports to the European market and to the Mediterranean basin.
Related stories:
DiversiTech expands in Europe – 7 November 2022
USA: DiversiTech, the US HVACR component manufacturer and supplier, has announced the formation of DiversiTech Europe, following the acquisition of three new European component brands. Read more…
DiversiTech changes owners in $2.2bn deal – 19 November 2021
USA: Partners Group, a Swiss-based global private equity firm, has acquired US HVAC parts manufacturer and supplier DiversiTech in a $2.2bn deal. Read more…
