Market news, 09 December 2024
GRIG (Giordano Riello International Group) Spa, a global leader in the HVAC sector, has announced the acquisition of Spanish companies Airlan SA and Airlan Industrial SA. This strategic move reinforces GRIG’s position in both the European and international markets.
Airlan, headquartered in Bilbao, has an established reputation in air conditioning and air treatment solutions across Spain. The company forecasts a combined revenue of over €65 million for 2024 and employs more than 120 people. With six branches across Spain (Barcelona, La Coruña, Madrid, Palma de Mallorca, Seville, and Tenerife), Airlan also has a presence in Peru and the Dominican Republic through its subsidiaries.
Following this acquisition, GRIG Spa's revenue will exceed €600 million, supported by a global workforce of over 1,900 employees, further cementing its position as a major global player in the HVAC industry.
Alessandro and Raffaella Riello, President and Vice President of GRIG Spa, expressed their satisfaction with the acquisition, emphasizing its significance in the group’s international growth strategy.
“Our collaboration with Airlan spans over two decades as a trusted distributor of our products in Spain,” said Alessandro Riello, President of Aermec. “This acquisition enhances our direct presence in the Spanish market and enriches our international distribution network, which already includes the UK, France, Germany, Poland, and the Americas. It demonstrates our commitment to growth and consolidating our leadership in the HVAC industry both in Italy and globally.”
The acquisition agreement, signed on December 3 in Bilbao, was supported by Crédit Agricole Italia, which played a pivotal role in finalizing the deal.
GRIG (Giordano Riello International Group) Spa represents the excellence of Italian family entrepreneurship, combining advanced technical expertise, design capabilities, and an established international network.
The group encompasses several renowned subsidiaries, including:
With projected revenues of €600 million and a workforce of 1,900 employees, GRIG continues to be a dominant force in the European and global industrial landscape.
