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Ariston Thermo acquires majority stake in HTP

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Ariston Thermo acquires majority stake in HTP

New Bedford Mass. — Effective July 31st, 2017 Ariston Thermo acquired a majority stake in HTP Inc., a leading  North American company in the market of boilers and water heaters for both domestic and commercial use with its brand HTP.

With over 43 years of history and a well-established presence both in the United States and Canada, HTP offers a range of green technology products including high efficiency commercial and residential space heating boilers and combi’s, condensing tankless water heaters, thermal solar solutions and a full range of industry leading tank type energy efficient water heating equipment. The Company enjoys a distinctive positioning supported by a well-recognized brand and a strong reputation in terms of quality and reliability of its products and services developed over the years.

HTP Inc. is headquartered at New Bedford Massachusetts, where it employs over 235 people and operates two manufacturing plants. The company is enjoying significant growth based on strong demand for its newest iterations of space and water heating equipment.

With the acquisition of a majority share of HTP Inc., Ariston Thermo has built the necessary foundation in North America with the goal of strengthening its leadership in the global high efficiency heating and water heating markets.

Paolo Merloni, Executive Chairman of Ariston Thermo -“We are delighted to welcome to the Ariston Thermo family such a renowned company as HTP, with which we share the passion for the most advanced technologies and the strategy to strive for high efficiency.  HTP has a strong brand, local manufacturing plants, and a wide range of innovative products consistent with Ariston Thermo’s market position, and most of all the company has strong and knowledgeable employees and an excellent management team”.

Dave Davis, owner and CEO of HTP Inc. – “From the earliest days working with my father who founded the company, my passion has always been HTP! I enjoy working with our employees to develop products that are unique, highly efficient and offer real value to consumers. The partnership with Ariston Thermo will enhance our product portfolio and give HTP the necessary support to continue our development of cutting edge green technologies.”

Dave Martin, President and COO of HTP Inc. – “With this partnership, HTP’s official name is now HTP Comfort Solutions LLC reflecting the strategic direction of HTP and Ariston Thermo in creating new and exciting products and services to increase the health, comfort and well-being of our customers.  Ariston will bring world-class manufacturing technologies and significant purchasing power to assure HTP’s continued growth.  We have developed a strong management team at HTP which was one of the key attractions to our new partner.  With this existing team and our associates, we will continue to offer world-class service and support to our customers.”

Ariston Thermo is a global leading company in the water heating and heating industry. In 2016 the Group recorded a turnover of € 1.43 billion and sold 7 million products in over 150 countries; with 6,900 employees, 59 operating companies and 8 representative offices in 36 countries and 22 production sites in 13 countries. The Group offers a full range of products, systems and services, mostly under the brands Ariston, Elco, Chaffoteaux, Atag, Racold and NTI. Ariston Thermo shows its commitment to energy efficiency through the development of solutions based on renewable energy sources, such as solar thermal systems and heat pumps, the improvement of the efficiency of products such as boilers and water heaters and the continuous investment in innovation for the development of increasingly advanced connectivity systems. The goal of Ariston Thermo is to look at the future of thermic comfort, offering an optimal combination of quality, energy savings and care for the environment.

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