HVAC Breaking News

June 7, 2007: Luvata Acquires ECO Group

June 7, 2007
/ Print / Reprints /
/ Text Size+

LONDON - Luvata, a global supplier of fabricated metal solutions, services, and components to the manufacturing and construction industries, has announced the signing of an agreement to acquire ECO SpA, a major manufacturer of heat-transfer coils and coolers. The ECO Group currently employs about 2,400 staff and reported net sales of 325 million euros in 2006. It is currently indirectly owned by Compass Partners European Equity Fund and by the company management. Closing of the transaction is subject to regulatory approval within the European Union.

According to Luvata, the acquisition represents a strategic opportunity to strengthen its product offering in value-added solutions to HVACR customers. The ECO Group has a strong established position in Europe, complementing Luvata’s position in North America. Both groups have growing presences in Asia. Luvata said the combination of the two organizations will afford them a better physical presence in more key regions of existing and emerging business.

Luvata emerged when Outokumpu Copper Products was acquired by Nordic Capital in 2005.

John-Peter Leesi, CEO and president of Luvata, commented, “The combination of Luvata and ECO’s businesses represents a big step forward in providing advanced products and services to the HVACR industry. Our combined global footprint and capabilities will allow us to enhance the service and innovation offered to our customers. After the acquisition, we will cooperate closely with our customers to explore their future needs but, in the meantime, we will be maintaining our quality of service and commitment to the customers of both groups.”

Carlo Alberto Marsiletti, CEO of ECO Group, said, “ECO - acquired by Compass Partners European Equity Fund in November 2004 - has had impressive growth in recent years, becoming the first global manufacturer of coils and coolers. In joining Luvata, the industrial plan offers impressive opportunities for further growth, global coverage and technological developments to the benefit of its customers.”

The headquarters of the combination of ECO and Luvata’s coils business unit will be located in Pocenia, Italy.

For more information, visit www.luvata.com.

Publication date: 06/04/2007

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.



Image Galleries

2014 MCAA Annual Convention

Scenes from the 2014 MCAA Annual Convention in Scottsdale, Ariz.


NEWSmakers: Julian Scadden

Training is an ongoing process. Julian will discuss how you can generate maximum return on time and energy invested training by following a three part process. Listen to this podcast to get expert tips on training, tracking and follow up. 

More Podcasts



NEWS 04-14-14 cover

2014 April 14

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe


Which statement on service calls best applies to your business?
View Results Poll Archive


2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research


Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


Magazine image
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.


facebook icontwitter iconyoutube iconLinkedIn i con