BDR Thermea, a Dutch heating products group, has announced the acquisition of US based ECR International.
By including ECR International with its family of brands, BDR Thermea will become a top three player in the US heating market.
The acquisition of ECR is part of the BDR Thermea’s strategy to expand its operations outside Europe and to drive global expansion. The acquisition is pending final approval of ECR International’s shareholders.
ECR International is a company that provides heating and cooling products in the United States. BDR will acquire 100% of the company, including its local US manufacturing facilities, leading brands and distribution channels.
This enables BDR Thermea, a parent company of many international heating brands including De Dietrich, Baxi, Remeha, Brötje, and Baymak, to enter the US market as a domestic player. In turn, ECR International will have access to BDR Thermea’s hydronic heating.
The acquisition will bring together two privately owned companies that have been in business for almost 90 years in the US and for more than 300 years in Europe.
BDR Thermea Group chief executive officer Rob van Banning said: “BDR Thermea is on its way to become a leading heating manufacturer and distributor in the US. For us this acquisition represents a further step of our strategy to increase market share and presence worldwide.”
ECR International president and CEO Ron Passafaro added: “Not only does this partnership strengthen our position in the high efficiency condensing boiler market but also gives us the tools to open new market segments and distribution channels. ”
BDR Thermea employs more than 6,300 people and has a turnover of €1.7 billion. The group operates in more than 70 markets worldwide and has a top market position in numerous key markets, including the UK, France, Germany, Spain, the Netherlands and Italy.