Viessmann to acquire financial interest in ETHERMA
Promoting the growth potential of electrical heating specialists / strengthening sales networks of both companies
Allendorf (Eder)/Henndorf. March 19, 2018 – Viessmann, one of the leading international manufacturers of heating, industrial and refrigeration systems, is acquiring a share in the Salzburg company ETHERMA. This was announced in a joint declaration today at the Light+Building trade fair in Frankfurt. The family business is now in its second generation and has for 35 years been one of the leading companies in the electrical heating systems market. ETHERMA’s 85 employees generated revenue last year in the tens of millions.
The interest in ETHERMA will strengthen job security at its production facilities located in Salzburg by enabling growth potentials to be even better exploited. The company will retain its ETHERMA brand name and its independence.
The objective of the holding in the company, whose headquarters are in Henndorf am Wallersee, is to supplement Viessmann’s comprehensive range of products. Hence the product portfolio will include not only electrical floor heating systems, but also infrared heating systems and direct heating units, as well as the related control technology – and in the near future antifreeze and trace heating, as well.
“Last year, we entered the electrical market with the PV+E Systems division and are now strengthening this division by getting into electrical heating,” said Managing Director Karlheinz Reitze. “Starting immediately, we will be able to offer our customers the entire range of individual solutions for new builds and for modernizing existing buildings.”
“We were delighted when Viessmann approached us about a year ago with the idea of cooperating. We see a win-win situation in this collaboration,” added Thomas Reiter, shareholder in ETHERMA together with Bas Spekreijse from the Netherlands. Spekreijse has been the official sales partner in the Netherlands since as early as 1992, and together they founded ETHERMA Deutschland GmbH in Germany in 2009. Managing Director Thomas Reiter is the second generation of the family to run the company. He said, “ETHERMA is getting a chance to grow faster, and together with ETHERMA, Viessmann will be able to enter the important market of electrical heating. The sales channels and portfolios complement each other perfectly.” ETHERMA’s current three-stage sales channel will remain, but on the whole, sales will also profit from the collaboration, and Reiter added, “Thanks to the company’s steady growth and the expansion of the Salzburg location, the employees too will have many opportunities for further development.”
After building new production and office buildings in Henndorf – only a few kilometers away from Salzburg – in 1996, business development is now focused on further internationalization, with a sales company in Germany and strategic partners in such places as Switzerland, the Netherlands and Spain.
As with similar participating interests in years past, the goal is to connect the global sales network of the Viessmann Group with the core competence of the new partner company in order to achieve even faster growth.
The Viessmann Group
The Viessmann Group is one of the leading international manufacturers of heating, industrial and refrigeration systems. Founded in 1917, this family business has 12,000 employees and group sales of 2.25 billion euros (2016). Foreign countries account for 54 percent of sales. As a family business, Viessmann places special value on responsible conduct aimed at the long term; sustainability is already firmly established in the company principles. Viessmann’s comprehensive range of products offers individual solutions with efficient systems and outputs from 1 to 120,000 kilowatts for all areas of application and all fuel sources.