Ariston Thermo acquires majority stake in HTP Inc.

Written on: August 2, 2017 by ICM

New Bedford MA– Effective July 31st, 2017 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. HTP Inc. is headquartered at New Bedford Massachusetts, where it employs over 235 people and operates two manufacturing plants.
Paolo Merloni, Executive Chairman of Ariston Thermo -“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. 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”.
Dave Davis, owner and CEO of HTP Inc. – “From the earliest days working with my father who founded the company, my passion has always been HTP! 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.”
Dave Martin, President and COO of HTP Inc. – “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. 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.”
Ariston Thermo is a global company in the water heating and heating industry. In 2016 the Group recorded a turnover of € 1.43 billion and sold 7 million products in over 150 countries; with 6,900 employees, 59 operating companies and 8 representative offices in 36 countries and 22 production sites in 13 countries.