Entry into the heat distribution specialist: Viessmann acquires a stake in Pewo

Elsterheide/Allendorf (Eder), 18.1.2019 – The Viessmann Group acquires a stake in Pewo Energietechnik GmbH. The leading international manufacturer of energy systems participates in the owner-managed specialist for heat distribution systems as part of a strategic partnership. The transaction is still subject to approval by the antitrust authorities.

Intelligent heat distribution in district and local heating networks, such as in urban residential districts, plays a central role in the success of the energy revolution. According to Max Viessmann, CEO of the Viessmann Group, the aim is to develop energy-efficient solutions for the increasing global urbanisation in order to significantly reduce CO2 emissions from heat generation. "Together with Pewo, we can make a strong contribution here and will significantly expand our already strong commitment in this area. Our participation in the company, with which we have already had a long and proven relationship, underlines the core of our mission statement: We create living spaces for future generations".

"Viessmann's strategic participation in our company gives us a family-run, globally positioned innovation leader in the field of heating and cooling as a partner. Together we can offer integrated system solutions for heat generation and distribution from a single source. This puts us in an ideal position to address the issues of urbanisation and climate change with innovative technology from our core market of Germany to an international level," emphasises Robin Petrick, Managing Director of Pewo.

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About Pewo Energietechnik GmbH:

The owner-managed industrial company Pewo Energietechnik GmbH is based in Elsterheide in Saxony. Pewo develops and manufactures heat distribution systems as system solutions for apartments, residential buildings, residential quarters, cities, hotels, clinics, swimming pools and industry throughout Europe. The systems range from drinking water heaters to comprehensive network control technology or special systems with several megawatts of output for supplying heat to entire districts. Pewo integrates district heating, solar thermal energy, geothermal energy, natural gas, process heat and even heat recovery from waste water into its systems.

More than 18,000 individual customer systems are developed and produced each year by currently 365 employees. The Pewo modular system provides cost advantages for the customer, allowing the configuration of individually tailored, integrated products and systems. With a high degree of vertical integration, Pewo can draw on its own expertise in the fields of hydraulics, control technology, electronics and software development. Pewo sells its systems under its own name and also supplies complete white label systems to other well-known manufacturers. The Pewo factory customer service is present in Germany, Austria and Switzerland with eight branches and offices as well as a close network of regionally based technicians.

Over Viessmann

The Viessmann Group is one of the leading international solution providers of heating, industrial and cooling systems. Founded in 1917, the family-owned company employs 12,000 people, and group sales in the 2018 financial year totalled 2.5 billion euros.

With 23 production companies in 12 countries, sales companies and agencies in 74 countries and 120 sales offices worldwide, Viessmann has an international orientation. 55 percent of sales are generated abroad.

press contact / PEWO:

blaurock brand communication

Inh. Tobias Blaurock, Hechtstraße 30, 01097 Dresden

press contact / Viessmann:

Jörg Schmidt, Viessmann Group, Corporate Communications

January 2019