BDR Thermea buys out Italy's G.I. Holding to grow commercial HVAC arm

What's the deal? BDR ThermeaDealroom has a profile for this one. Try Dealroom →, the Dutch owner of Warwick-based boiler manufacturer BaxiDealroom has a profile for this one. Try Dealroom →, has completed its acquisition of Italian HVAC specialist G.I. HoldingDealroom has a profile for this one. Try Dealroom →. The company bought the remaining 75% stake, having first invested in the business in 2023.

What's the endgame? The deal expands BDR Thermea's commercial heating and cooling business. It adds G.I. Holding's portfolio of commercial heating, ventilation, and air conditioning brands to the group.

Why now? The full buyout follows a phased approach that began with BDR Thermea's initial minority investment in 2023.

The signal: The acquisition points to continued consolidation across Europe's HVAC market, as manufacturers broaden beyond residential boilers into commercial heating and cooling.

Read more: TheBusinessDesk.com