The BDR Thermea Group, a leading international manufacturer of smart indoor climate control solutions and the parent company of BAXI, today announced the acquisition of 100% of the Italian company G.I. Holding, a leader in heating, ventilation, and air conditioning solutions for commercial and industrial applications.
G.I. Holding has a strong product portfolio and extensive experience in engineering, systems integration, and services. Its brands include CLINT (heat pumps and chillers), KTK KLIMATECHNIK (process cooling), NOVAIR (air quality solutions), and MONTAIR (data center cooling). This development will directly strengthen the Commercial Air Conditioning catalog that BAXI will soon offer its customers in Spain and Portugal, allowing it to present new heat pump solutions for building decarbonization, among other significant innovations.
The business evolution of BDR Thermea and its entire group of companies towards centralized air conditioning systems for commercial and industrial buildings has its roots in BAXI’s 2021 acquisition of Hitecsa. This acquisition aimed to complement BAXI’s traditional offering and provide more tailored solutions for all types of commercial and industrial buildings, such as airports, hospitals, hotels, supermarkets, and shops. Joan Blanch, General Manager of BDR Thermea in Spain and Portugal, emphasizes that “this acquisition, completed today by the Group, reinforces BDR Thermea’s strategic and operational alignment with its growth plan for 2030. Today, we significantly expand our capacity to offer solutions for all the commercial air conditioning needs of our clients, from residential complexes and hotels to educational and commercial centers.”
Three years of relationship
The acquisition of 100% of the Italian company G.I. The acquisition of G.I. Holding, a leader in heating, ventilation, and air conditioning solutions for commercial and industrial applications, by BDR Thermea, culminates a relationship that began in 2023 when it acquired a 25% minority stake in G.I. Holding.
Regarding today’s transaction, Tjarko Bouman, CEO of BDR Thermea, stated: “This is a pivotal moment for BDR Thermea. G.I. Holding brings a high-capacity product portfolio, engineering expertise, and the commercial capabilities we need to deliver fully integrated decarbonization solutions.”
Paolo Baldissin, former CEO of G.I. Holding, added: G.I. Holding, for its part, explained that: “Our collaboration began more than five years ago with the aim of supporting BDR Thermea’s business evolution towards centralized climate control systems for commercial and industrial buildings. The step we are taking today 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 focus, will allow the G.I. Holding group to continue growing strongly. It also demonstrates BDR Thermea’s clear long-term commitment to Italy as a key market and as a hub of innovation in Europe.”
An accelerator for the 2030 strategy
The acquisition completed today is a key step in driving BDR Thermea’s 2030 strategy: Focus, Transformation, and Action. These are the key principles that will guide the company’s long-term evolution. The strategy is based on strengthening BDR Thermea’s position in the residential and commercial markets, expanding its connected heating and cooling solutions, and reinforcing after-sales services. A key element is shifting the focus from a product-centric approach to one centered on offering integrated climate control systems tailored to our customers’ needs.
G.I. Holding enhances these capabilities and adds a robust commercial portfolio and extensive experience in engineering, systems integration, and services. This acquisition also brings added value in engineering, product management, training, and after-sales support, giving a clear boost to the delivery of comprehensive solutions.
A Complete Commercial HVAC Offering
Together, BDR Thermea and G.I. Holding will now offer their customers a complete and integrated HVAC portfolio, positioning the company as a “one-stop shop” for commercial heating and cooling solutions. With a stronger local presence across Europe, enhanced service capabilities, and close collaboration with our customers, the combined business can offer tailored solutions for diverse markets and applications. G.I. Holding’s brands will continue to be differentiated by ongoing investment in R&D, product development, and anticipated market growth.
Strengthening Manufacturing and Global Reach
The acquisition announced today reinforces BDR Thermea’s commitment to industry excellence. G.I. Holding’s production facilities… G.I. Holding’s facilities in Latisana, Ronchis, and Rivignano (Friuli-Venezia Giulia) join BAXI’s presence in Bassano di Grappa (Veneto) and Castellbisbal (Barcelona), creating a strengthened industrial platform within BDR Thermea’s network of 14 manufacturing plants across Europe. Approximately 300 G.I. Holding employees in Italy, Hungary, Malaysia, and the United Arab Emirates join BDR Thermea, an organization of more than 6,500 people operating in over 50 countries.