Ariston Group announces the acquisition of a 100% stake of DDR Heating (“DDR”), a U.S.-based manufacturer specializing in tubular electric heaters for professional and industrial applications. This bolt-on acquisition marks an important milestone for Ariston Group’s Components Division – Thermowatt, providing an entry point into the North American components market.
Paolo Merloni, Ariston Group Executive Chairman, commented: "We are thrilled to welcome DDR into Thermowatt and the broader Ariston Group. Over the last decade, we have significantly grown our business in the professional and industrial space, making it a key contributor for our Components Division. This acquisition is a testimony of our ambition to further accelerate this growth”.
Marco Conti, EVP of Components Division at Ariston Group, commented: "With DDR, Thermowatt enriches its range of products in the commercial comfort and industrial space. Moreover, this acquisition strengthens our ability to address the vast U.S. components market, reinforcing our footprint and providing us with much needed technical, service, and support presence for North American customers”.