MHS sold to Ariston
Published: 02 December, 2010
HIGH WYCOMBE/ESSEX: MHS Boilers has been acquired by Elco Heating Solutions, part of the Ariston Thermo Group.
Elco is a European brand that manufactures boilers and renewable systems, including heat pumps and solar hot water. For the past five years, its products have been available in the UK exclusively from MHS Boilers.
MHS Boilers said this acquisition would enable it to further develop its renewable energy and condensing boiler business. The company will retain its brand in the UK, and will remain at its current site in Basildon, Essex. MHS Radiators remains unaffected by the acquisition, and trades independently.
Ian Bradley, managing director of 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."
Elco is one of the three main brands of the Ariston Thermo Group, and has a turnover of around €300m a year. Other brands owned by the group include Chaffoteux and Ariston.
Paolo Merloni, Ariston Thermo Group's chief executive officer, 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."