# Giordano Riello acquires majority stake in Novatherm

Giordano Riello International Group acquired a majority share in Novatherm GmbH, a leading wholesaler of air conditioning systems in Germany. Novatherm's former owner-manager Götz Heymann will retain some shares and continue to manage the business.

- Type: Acquisition
- Announced: 2017-04-25
- Where: Ratingen, North-Rhine Westphalia, Germany
- Status: completed
- Products: air conditioning systems
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Giordano Riello International Group](https://endata.com/companies/23801.md) (acquirer)
- [Novatherm](https://endata.com/companies/23802.md) (target)

## Sources

- [luther-lawfirm.com](https://www.luther-lawfirm.com/en/newsroom/press-releases/detail/luther-to-advise-the-italian-giordano-riello-international-group-on-the-takeover-of-refrigerator-wholesaler-novatherm), 2017-04-25: "In late April 2017, Giordano Riello International Group (GRIG) acquired a majority share in Novatherm GmbH domiciled in Ratingen (North-Rhine Westphalia)."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.