Groupe Atlantic News.
GROUPE ATLANTIC confirms its development in Germany and in energy-efficient technologies with the acquisition of Thermic Energy.
On Tuesday October 10, GROUPE ATLANTIC has completed the acquisition of 70% of Thermic Energy.
Thermic Energy is well known in Germany and other European countries for buffer tanks and sanitary hot water (SHW) tanks, that are increasingly installed in a heating and SHW installation using renewable energies (Heat pump, thermal solar, biomass…). It has a storage function between the renewable energy generation and the usage of hot water. It is so a clear instrument for the decarbonisation of the building sector, as promoted by the “EU green deal”, in particular for retrofit of existing buildings.
Damien Carroz, M&A Director of GROUPE ATLANTIC: "Thermic Energy is a key player of a growing and exciting market. This acquisition brings to our group an additional manufacturing footprint, in a cost competitive environment, and significant market shares. We are looking forward to synergies of R&D, costs and supply chain with our existing businesses, that have a similar growth trajectory”.
Rafael Zeller, CEO Thermic Energy: "The commercial footprint of GROUPE ATLANTIC and its industrial competencies will allow us to accelerate very quickly the development of Thermic Energy in Europe. Our current multi-million-euro extension project is then confirmed and even validated by our entry into GROUPE ATLANTIC.".
Rafael Zeller remains a shareholder and the managing director of Thermic Energy; with the current management team, he will continue to drive on a day-to-day basis Thermic Energy business, including relationship with customers and suppliers, brand and R&D management.
About THERMIC ENERGY
Since 2005, Thermic Energy has been developing and manufacturing Buffer and Sanitary hot water tanks from its German site in Borna ("Made in Germany"), which are installed throughout Europe, mainly in Germany. Thermic Energy, whose motto is “innovative and regenerative”, has known a strong growth since its creation, reaching 22 M€ and 150 staff in 2021, thanks to its quality and flexibility culture.