Centrotec Climate Systems sluit zich aan bij Ariston Groep
CENTROTEC Climate Systems to join Ariston Group
- CENTROTEC group companies Wolf, Brink, Pro-Klima and Ned Air will benefit from Ariston’s scale, technologies, market access and global footprint
- CENTROTEC to participate in this growth as significant shareholder of Ariston
- Industrial companies of CENTROTEC will continue growth paths
- CENTROTEC to continue strategic development towards diversified financial holding company
Brilon – CENTROTEC SE (CENTROTEC) is proud and excited to announce that as of today we have paved the way for an even more successful and sustainable future for our group companies.
CENTROTEC has signed a binding agreement with Ariston Holding N.V. (Ariston):
CENTROTEC Climate Systems (CCS) with its successful brands Wolf, Brink, Pro-Klima and Ned Air will become part of the Ariston Group. CENTROTEC will become a significant shareholder of Ariston and, after the closing, will nominate Guido A. Krass – founder, Chairman of the Supervisory Board and main shareholder of CENTROTEC – to become a member of Ariston’s Board of Directors.
Ariston is an internationally renowned group with – at the end of 2021 – around EUR 2 billion revenue and 8,000 employees, present in 43 and serving 150+ countries worldwide – with a commitment to deliver renewable and high efficient solutions for thermal comfort.
CCS will benefit from the Ariston Group’s scale, technologies, market access and global footprint, as well as commercial synergies.
Along with Ariston’s brands Elco and ATAG, Wolf will reinforce the mid- to high-end heating offering of the Group, leveraging the unique identity of each brand, the product portfolio complementarity, the new generation heat-pumps, the know-how on application solution and the after-sales service excellence. Brink will provide Ariston with the technology, product portfolio and manufacturing base needed to capture the potential of residential ventilation. The air-handling-units of Wolf, Pro-Klima and Ned Air will complement the Ariston Group’s offering of climate solutions to commercial clients.
With a substantial shareholding of >10% of the Ariston Group post-transaction and a seat on Ariston’s Board of Directors, CENTROTEC will continue to share in the growth journey of its former Climate Systems segment and thus also benefit from the positive synergies it will bring to Ariston’s business.
All other operational CENTROTEC companies with total annual revenue of approximately EUR 300 million will continue their successful international growth paths. The transaction allows the accelerated enlargement of CENTROTEC’s industrial footprint, with the focus on energy-efficient building products, medical technology products and engineering plastic solutions maintained.
With this step CENTROTEC continues its strategic development towards a diversified and balanced financial holding company. In addition to realizing the growth ambitions in its industrial sector, the transaction will enable CENTROTEC to expand its real estate activities as well as to develop its financial investment strategy further.
Closing is subject to the customary conditions including approval by the relevant authorities and is expected for 31 December 2022.
In connection with this transaction, CENTROTEC was advised by Freshfields Bruckhaus Deringer, PWC and M.M. Warburg & Co.
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