Investment in specialist for heat distribution:
Viessmann acquires a stake in Pewo
Elsterheide/Allendorf (Eder), 18.1.2019 - The Viessmann Group acquires a stake in Pewo Energietechnik GmbH. The leading international manufacturer of energy systems acquires a stake in the owner-managed specialist for heat distribution systems as part of a strategic partnership. The transaction is still subject to approval by the antitrust authorities.
Intelligent heat distribution in district and local heating networks, such as in urban residential districts, plays a central role in the success of the energy transition. According to Max Viessmann, CEO of the Viessmann Group, the aim is to develop energy-efficient solutions for the global trend towards urbanization and in order to significantly reduce CO2 emissions from heat generation. "Together with Pewo, we can make a strong contribution and will significantly expand our strong commitment in this area. Our participation in the company, with which we have already had a long and proven relationship, underlines the core of our mission statement: We create living spaces for generations to come".
"Viessmann's strategic participation in our company gives us a family-run, globally positioned innovation leader in the field of heating and refrigeration as a partner. Together, we can offer integrated system solutions for heat generation and distribution from a single source. This puts us in an ideal position to address the issues of urbanization and climate change with innovative technology from our core market of Germany to an international level," emphasizes Robin Petrick, Managing Director of Pewo.
About Pewo Energietechnik GmbH:
The owner-managed industrial company Pewo Energietechnik GmbH is based in Elsterheide in Saxony/Germany. Pewo develops and manufactures heat distribution systems as system solutions for apartments, residential buildings, quarters, cities, hotels, hospitals, spas and industry throughout Europe. The systems range from drinking water heaters to comprehensive network control technology or special systems with several megawatts of output for supplying heat to entire districts. Pewo integrates district heating, solar thermal energy, geothermal energy, natural gas, process heat and even heat recovery from waste water into its systems. More than 18,000 individual customer systems are developed and produced each year by currently 365 employees. Cost advantages for the customer result from the Pewo modular system, from which individually tailored, integrated products and systems can be configured.
Pewo sells its systems under its own name and also supplies complete white label systems to other well-known manufacturers. The Pewo factory customer service is present in Germany, Austria and Switzerland with eight branches and offices as well as a close network of regionally based technicians.
The Viessmann Group is one of the leading providers of heating, industrial, and refrigeration solutions. This family enterprise was founded in 1917, has 12,100 employees, and the group’s turnover amounts to € 2.37 billion Euro (2017).
With 23 production companies in 12 countries, distribution companies and representative offices in 74 countries and 120 sales offices throughout the world, Viessmann is truly international in its orientation. 55 percent of turnover is generated abroad.