Ethica Group, through its M&A Advisory team, assisted the shareholders of Elbi S.p.A., a manufacturer and distributor of components and systems for the HVAC market with residential, commercial and industrial applications, in the sale to Reflex Winkelmann GmbH, a leading provider of high-quality systems for heating and hot water technology.
Operational members of the Elbi family will continue to be part of the management team in the coming years, as Reflex intends to maintain Elbi’s current structure and ensure a stable and attractive working environment for its employees. The company will be managed as an independent unit under the umbrella of Reflex Winkelmann.
Founded in the province of Padua in 1965, Elbi operates in the hydrothermal sanitary sector, standing out for its dynamism, continuous innovation and international orientation. Elbi specializes in the design, production and distribution of metal and polymer tanks for the thermal-hydraulic sector and offers a product line dedicated to water treatment, including storage and filtration systems. Thanks to its long-standing experience and consolidated know-how, the company provides high-quality technological solutions for residential and industrial systems, combining efficiency, reliability and high performance. Elbi currently holds a leadership position in the Italian market and is increasingly recognized internationally.
This strategic acquisition confirms Reflex’s goal to strengthen its presence in European and global markets, consolidating the group’s position as a leading provider of heating and cooling solutions.
As part of the transaction, Elbi’s shareholders were advised on financial matters by Ethica Group’s M&A Advisory team, composed of Stefano Pastore, Roberto Ture and Lorenzo Vannozzi.
