BDR Thermea acquires HVAC manufacturer G.I. Holding
Italy – Smart indoor climate solutions specialist BDR Thermea Group has completed its acquisition of 100% of Italian HVAC manufacturer G.I. Holding. Netherlands-based BDR Thermea is the parent company of BAXI, among other brands, and employs approximately 6,500 people across more than 50 countries.
The move will see G.I. Holding’s Clint heat pumps and chillers added to its portfolio, alongside Montair (precision cooling), Novair (air quality) and KTK Klimatechnik (process cooling). BDR Thermea says the brands will remain distinct, supported by continued investment in R&D, product development, and market growth.
The acquisition builds on a partnership that began in 2023, when BDR Thermea acquired a 25% minority stake in G.I. Holding. Tjarko Bouman, CEO of BDR Thermea, said: “This is a defining moment for BDR Thermea. G.I. Holding brings the high-capacity product portfolio, engineering expertise, and commercial competencies we need to deliver fully integrated decarbonisation solutions. With this step, we significantly expand our ability to serve the full spectrum of commercial HVAC needs – from residential complexes and hotels to data centers, education and retail environments.”
Paolo Baldissin, former CEO of G.I. Holding, added: “Our collaboration began over five years ago with a view to supporting BDR Thermea’s business evolution toward centralised air conditioning systems for commercial and industrial buildings. This step now opens up new opportunities for G.I. Holding and its valued customers in an increasingly competitive market dominated by large industrial groups. BDR Thermea’s long-term vision combined with its industrial approach will enable the G.I. Holding Group to continue growing.”
G.I. Holding’s production facilities in Latisana, Ronchis, and Rivignano (Friuli Venezia Giulia) join BAXI’s established presence in Bassano del Grappa (Veneto), creating an extended Italian industrial platform within the BDR Thermea’s network of 14 manufacturing sites across Europe.
Alberto Favero will become Managing Director of G.I. Holding, alongside his current role as Managing Director of BDR Thermea Italy. He said: “G.I. Holding has built strong brands, deep technical expertise and lasting customer relationships. I look forward to working with colleagues across G.I. Holding and BDR Thermea to build on these strengths, support our customers and continue the successful development of the business as part of BDR Thermea.”
