MHS Boilers has been acquired by ELCO Heating Solutions, part of the Ariston Thermo Group.
ELCO manufactures boilers and renewable systems including heat pumps and solar hot water. Its products, for the past five years, have been available in the UK exclusively from MHS Boilers.
The acquisition will enable MHS Boilers to further develop its renewable energy and condensing boiler business, giving the company access to product development at its early stages as well as ELCO's own sales and service organisation. ELCO has a presence globally including in Germany, Switzerland, Austria, Italy, Belgium, the Netherlands and China and has over 2,000 employees in Europe and Asia With a turnover of around 300 million EUR per annum, it is one of the three main brands of the Ariston Thermo Group.
MHS Boilers will retain its brand in the UK, and continue to source the very best products for the UK's light commercial and industrial market. The company will remain at its current building in Basildon and MHS Radiators remains unaffected by the acquisition and trades independently.
Ian Bradley, managing director, MHS Boilers, said: 'The combination of MHS Boilers and ELCO in the UK will be a formidable force. Both businesses have a long history in the heating business and our combined expertise and experience will benefit customers, consultants, specifiers, contractors and end users alike.'
Paolo Merloni, Ariston Thermo Group's CEO, said: 'Its skills and expertise make MHS Boilers a standard setter in the UK market and will allow us to develop significant synergies, in line with our strategic development outlook.'
ELCO is part of the Ariston Thermo Group which has 19 factories in 10 countries and wholly owned subsidiaries in 26 countries. Its sales network covers over 150 countries around the world. The group employs more than 6,800 people. The Ariston Thermo Group prides itself on quality, research & development as well as having strong environmental credentials. Among the brands owned by the group are ELCO, Chaffoteux, Ariston, Rendamax and Cuenod.
The acquisition comes after 30 years of independence for Basildon‐based MHS Boilers.