Opengate Capital acquired AICO from Ambienta.

Global private equity firm signed an agreement to acquire AICO SpA, an Italian manufacturer of residential stoves, fireplaces, boilers and cookers from Ambienta SGR, a European private equity group. Financial terms were not disclosed. “A key aspect in OpenGate’s acquisition of Jøtul, is to identify both organic and inorganic opportunities for growth. Through AICO, we will immediately enhance Jøtul and create synergies, enrich the product portfolio and expand into new markets. From an OpenGate perspective, this acquisition will mark an important step toward achieving our full potential plan for Jøtul.” Fabien Marcantetti, Open Gate Managing Director.