Acquisition of THERMIC ENERGY by Groupe ATLANTIC
Paris (France), 25 October 2021,
Financière de Courcelles is once again advising Groupe Atlantic, a major European player in thermal comfort, on the acquisition of Thermic Energy, a German company specialising in hot water storage tanks.
Groupe Atlantic, a European leader in thermal comfort, acquires 70% of Thermic Energy
ounded in 2005 and based in Borna (Saxony), Germany, Thermic Energy develops and manufactures primary storage tanks and hot water tanks, which are sold mainly in Germany and throughout Europe. In line with its motto “innovative and renewable” aimed at decarbonising the building sector, Thermic Energy is increasingly integrating its solutions into heating and hot water systems using renewable energies (heat pumps, solar thermal, biomass…). Thermic Energy has experienced strong growth since its creation, reaching €25 million in turnover and more than 150 employees in 2021 thanks to the recognised quality of its products (“Made in Germany”).
Originating from La Roche-sur-Yon in Vendée (France), the Atlantic Group is a large, innovative industrial company that has built its growth on a solid foundation of family values. A specialist in thermal comfort (boilers, water heaters, radiators, heat pumps, etc.), the Group has a vast portfolio of leading brands such as Atlantic, Ideal, Thermor, Sauter, etc. With more than 10,300 employees and 28 production sites worldwide, the Atlantic Group achieved a turnover of more than €2.2 billion in 2020.
International development, and in particular in the DACH region, is a priority of the Atlantic Group’s strategy. The acquisition of Thermic Energy allows the Group to strengthen its industrial capacities in Germany in a fast growing segment. The founder-manager of Thermic Energy will remain a shareholder and Managing Director of the company.
Damien Carroz, M&A Director of the Atlantic Group: “Thermic Energy is a key player in an exciting and growing market. This acquisition provides our Group with additional industrial capacity, in a cost competitive environment, and significant market share. We look forward to the R&D, cost and supply chain synergies with our existing businesses, which have a similar growth trajectory”.
Rafael Zeller, CEO of Thermic Energy: “The Atlantic Group’s commercial presence and industrial skills will enable us to accelerate the development of Thermic Energy in Europe very quickly. Our current expansion project of several million euros is thus confirmed and even validated by our integration into the Atlantic Group”.
This is the second acquisition advised by FDC in 2021 on behalf of Groupe Atlantic after the acquisition last July of Hautec, a heat pump specialist. This transaction illustrates FDC’s know-how in advising large groups on cross-border transactions involving a number of players from different countries in a context of regulations specific to each country. With its expertise in Augmented M&A®, FDC is one of the only French investment banks capable of setting up tailor-made solutions (multi-country and multi-expertise) to support SMEs, ETIs and large companies in their growth, particularly internationally.
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