Groupe Atlantic completed the acquisition of a 70% stake in Thermic Energy.

Groupe Atlantic, a thermal comfort provider, completed the acquisition of a 70% stake in Thermic Energy, a buffer tanks and sanitary hot water tanks provider. Financial terms were not disclosed. "Thermic Energy is a key player of a growing and exciting market. This acquisition brings to our group an additional manufacturing footprint, in a cost competitive environment, and significant market shares. We are looking forward to synergies of R&D, costs and supply chain with our existing businesses, that have a similar growth trajectory," Damien Carroz, Groupe Atlantic Director.