Groupe Atlantic has signed an agreement to acquire Triangle Tube, the inventor and manufacturer of the Fire-Tube combustion technology and revolutionary Tank-in-Tank technology. The acquisition was announced today and includes all activities, factories and brands of the mother company of Triangle Tube, the privately-owned Belgium company, ACV International. ACV has been designing, manufacturing and distributing engineering solutions for residential, commercial and domestic hot water and heating solutions since 1922.
The acquisition is still pending the approval of the relevant regulatory bodies.
Groupe Atlantic was founded in 1968 and is a leading designer and manufacturer of boilers, water heaters, ventilation and air conditioning, heat pumps and more. Groupe Atlantic is a privately owned global company whose headquarters are in Paris, France. The Group has a strong manufacturing culture and a business strategy that focuses on its employees and customers.
Pierre-Louis Francois, CEO of Groupe Atlantic stated; “The acquisition of ACV and Triangle Tube is an important step in our strategy to create and deliver products and services that improve people’s quality of life and help to enable our customers’ success. We have been able to evolve and grow our company by constantly expanding our skills and fields of expertise. Today, with the acquisition of ACV and Triangle Tube, we expand and reinforce our position in the global market for heating and domestic hot water worldwide”. Pierre-Louis Francois added “I believe ACV’s global presence and solution orientated approach to engineering products for its customers are consistent with the Groupe Atlantic philosophy”.
About Triangle Tube
Triangle Tube is a subsidiary of ACV International, a family-owned company, with 3 generations of proud engineering and dedication to service and aftersales support. The company offers a wide range of space heating and water heating products for the Residential, Commercial and Industrial markets. Thanks to their leading proprietary edge technology, Triangle Tube’s innovative products meet all requirements in space heating and hot water comfort for North America and has been selling these products successfully for the last decades in North America.
Sjacco van de Sande, CEO of Triangle Tube stated; “With this acquisition by Groupe Atlantic we not only secure our strong brand position but also extend our products and brands portfolio which enables us to grow further. I am convinced that together with Groupe Atlantic we have the power to build a strong and sustainable future”