Frico AB, member of the Systemair Group, has acquired 49,9% of the shares of the German company Burda Worldwide Technologies GmbH.
Burda WTG was founded by Jiri Burda in 1990. Since 2000, the company has focused on developing and producing infrared shortwave devices for surface heating. The Burda WTG range, which is partly protected with international patents, continues to set global standards for innovative heating and cooling concepts in the indoor and outdoor sectors.
With a yearly turnover of over 4 million euros and worldwide product sales in over 50 countries, the company is one of the market leaders in the field of innovative infrared heating systems.
Frico has acquired 49,9% of the shares of Burda WTG with the option to acquire remaining shares in the future. Investing in Burda WTG is an important strategic step for Frico in order to build up a successful radiant heating business.
“Frico foresee an ever growing market potential in providing comfort heating solutions by offering smart, fast and flexible alternatives. The innovative and price winning Burda product range is a perfect extension to the existing Frico range of infrared heating systems, especially for outdoor applications”, says Kurt Maurer, Managing Director of Frico.
“In a time when infrared radiant heaters are becoming more popular we have a perfect opportunity to position Frico as a top supplier in Europe, being able to offer one of the widest product ranges on the market”, he continues.
In addition, Burda WTG and Frico sales channels complement each other very well and the acquisition of Burda WTG will also provide a positive outcome when introducing existing products into new sales routes.
“Burda WTG is very pleased to partnering with Frico” says Jiri Burda, Managing Director of Burda WTG.
“This strategic partnership gives Burda strength to continue developing the company and product offer and we are looking forward to introducing new exiting products and solutions to an even wider market in the near future.”