Effective July 31, Ariston Thermo acquired a majority stake in HTP Inc., a North American company in the market of boilers and water heaters for both domestic and commercial use with its brand HTP.
With more than 43 years of history and a well-established presence both in the U.S. and Canada, HTP offers a range of green technology products including high efficiency commercial and residential space heating boilers and combi’s, condensing tankless water heaters, thermal solar solutions and a full range of industry leading tank type energy efficient water heating equipment. The company enjoys a distinctive positioning supported by a well-recognized brand and a strong reputation in terms of quality and reliability of its products and services developed over the years.
HTP is headquartered in New Bedford, Mass., where it employs more than 235 people and operates two manufacturing plants. The company is enjoying significant growth based on strong demand for its newest iterations of space and water heating equipment.
With the acquisition of a majority share of HTP, Ariston Thermo has built the necessary foundation in North America with the goal of strengthening its leadership in the global high efficiency heating and water heating markets.
“We are delighted to welcome to the Ariston Thermo family such a renowned company as HTP, with which we share the passion for the most advanced technologies and the strategy to strive for high efficiency," Ariston Thermo Executive Chairman Paolo Merloni said. "HTP has a strong brand, local manufacturing plants, and a wide range of innovative products consistent with Ariston Thermo’s market position, and most of all the company has strong and knowledgeable employees and an excellent management team."
“From the earliest days working with my father who founded the company, my passion has always been HTP," HTP owner and CEO Dave Davis said. "I enjoy working with our employees to develop products that are unique, highly efficient and offer real value to consumers. The partnership with Ariston Thermo will enhance our product portfolio and give HTP the necessary support to continue our development of cutting edge green technologies.”
“With this partnership, HTP’s official name is now HTP Comfort Solutions LLC reflecting the strategic direction of HTP and Ariston Thermo in creating new and exciting products and services to increase the health, comfort and well-being of our customers," HTP President and COO Dave Martin said. "Ariston will bring world-class manufacturing technologies and significant purchasing power to assure HTP’s continued growth. We have developed a strong management team at HTP which was one of the key attractions to our new partner. With this existing team and our associates, we will continue to offer world-class service and support to our customers.”
Check out the February 2020 edition of Plumbing & Mechanical: Top commercial plumbing trends: Legionella prevention, labor shortage, Artificial Intelligence chat converts website traffic into service calls, 2019 products of the year, and much more!