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02/22/2024
Ariston Thermo enters the North-American market with the acquisition of NTI
Ariston Thermo acquired a majority stake in NY Thermal Inc., leading company in Canada and among the leaders in the USA in the market of boilers for both domestic and commercial use with its brand NTI.
With over 40 years of history and a well-established presence both in Canada and in the USA, NTI offers a range of high efficient products mainly composed by wall-hung gas condensing boilers and completed by a selection of floor-standing gas boilers and oil boilers. The Company enjoys a distinctive positioning supported by a well-recognised brand and a strong reputation in terms of quality and reliability of its products and services developed over the years.
NTI is headquartered at Saint John in Canada, in the Eastern province of New Brunswick, where it employs around 120 people and owns two productive plants. The Company represents one of the more dynamic realities in the industry recording a significant and constant growth.
With the acquisition of NTI, Ariston Thermo enters the North-American market with the goal of strengthening its leadership in the global heating and water heating and energy efficiency industry and of continuing along its growth path.
“The goal of Ariston Thermo is to continue its growing path” stated Paolo Merloni, Executive Chairman of Ariston Thermo. “The expertise and the positioning of NTI – as well as the quality of its management and of its people – make the Company a true benchmark for the market in the Canada and USA and allow us to enter the North-American market and to develop important projects common to the whole Group. All this being consistent with our strategic prospects of increasingly becoming leading players in the field of high-efficiency solutions and renewable energy systems”.
02/22/2024