BH S.r.l., the holding company of the Bertolotti family which heads the IVAR Group, has acquired 40% of IVAR S.p.A., a company already controlled by BH and one of the leading operators in the design and manufacture of energy-efficient heating and sanitary systems. The shareholding was sold by Begetube NV, a Belgian distributor of heating, ventilation and plumbing systems under the IVAR and Fraenkische brands in which IVAR is a shareholder. This brings BH’s shareholding in IVAR to 90%.
IVAR Group has been producing articles for heating and sanitary systems for over 35 years: valves for heating bodies, modules for direct metering, devices for heat distribution, pipes and fittings, substations for heating plants, distribution manifolds, radiant panel systems, components for solar and geothermal systems and boilers. All production is made in Italy, manufactured at the Prevalle (Brescia) plants. The Group has 11 foreign branches and generates a consolidated annual turnover of over 100 million Euros with an Ebitda of over 15 million Euros.
Begetube, currently managed by Mr Luc Van Onckelen and Mr Jerry De Weerdt, shareholders of the company with BH and IVAR, was founded in 1980 in Belgium and is the exclusive distributor of IVAR for the Benelux to wholesalers and installers of products and systems for the installation of heating systems (including plastic pipes for underfloor heating, pipe-in-pipe systems, insulating panels), ventilation systems and plumbing systems (complete range of plastic taps and fittings).