Ariston Group Acquires Majority Stake in Z.R.E.
Deal News | Jun 26, 2025 | Finance Community IT - 1 Corporate M&A
Ariston Group, through its Thermowatt division, has acquired an 80% stake in Zecchi Riscaldatori Elettrici (Z.R.E.), a historical company based in San Gillio, Turin, known for its design and production of industrial electric heaters. The current entrepreneur will retain a 20% stake for two years to ensure managerial continuity and support the company's growth and integration within Thermowatt. Ariston Group's legal advisory was provided by B&C Legal Corporate and FaceLaw, while the sellers were assisted by Studio Legale Guidotti and CMFC Studio Associato for legal and fiscal aspects respectively. This acquisition is part of Ariston Group's strategy to enhance its Thermowatt division's presence in professional and industrial markets.
Sectors
- Manufacturing
- Energy
Geography
- Italy – Both Ariston Group and Z.R.E. are based in Italy, making this acquisition significant within the Italian industrial sector.
Industry
- Manufacturing – Z.R.E. is involved in the manufacturing sector with a specialization in designing and producing industrial electric heaters.
- Energy – The acquisition is related to energy solutions as Z.R.E. produces electric heaters which are key components in energy and heating systems.
Financials
- 7 million euros – Z.R.E.'s revenue for the year 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ariston Group | Buyer | Company | A leading company in sustainable comfort solutions for heating and hot water. |
| Zecchi Riscaldatori Elettrici (Z.R.E.) | Target Company | Company | A historical company specializing in the production of industrial electric heaters based in San Gillio, Turin. |
| Thermowatt | Acquiring Division | Division | Division of Ariston Group focused on component solutions for heating systems. |
| B&C Legal Corporate | Legal Advisor | Company | Provided legal advisory services to Ariston Group for the acquisition. |
| FaceLaw | Legal Advisor | Company | Collaborated with B&C Legal Corporate in advising Ariston Group. |
| Studio Legale Guidotti | Legal Advisor | Company | Provided legal advisory services to the sellers. |
| CMFC Studio Associato | Fiscal Advisor | Company | Provided fiscal advisory to the sellers. |