Header Itho Daalderop

The growth and change we have experienced in recent years is difficult to imagine without Gimv’s constant presence as an enthusiastic supporter, reliable sponsor and source of management expertise.

Bas Korte - CEO

Itho Daalderop & Klimaatgarant

Itho Daalderop is the result of a merger between Itho Daalderop and Klimaatgarant. Itho Daalderop develops, produces and sells innovative hot water boilers, ventilation systems and heat pumps, which create a healthy, energy-efficient indoor climate. Klimaatgarant develops and operates energy-neutral new-build housing projects. Thanks to the merger, the group today is a provider of total solutions both in the renovation and in the new construction market.

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2016

Icon exit

2020

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450

Icon location

the Netherlands

When ambition meets ambition

With concern over climate change growing and energy requirements becoming ever-more stringent, Itho Daalderop wants to transform from product supplier to total solution provider of energy-neutral housing, guaranteeing that residents will pay no energy bills for 25 years. By offering this, it seeks to stay ahead of future developments in the residential HVAC market and, ultimately, expand geographically.

From our experience with other Sustainable Cities projects, we know the energy housing market has growth potential. Itho Daalderop and Klimaatgarant make a strong combination: the first has a very attractive position in the existing market, while the latter has the right vision of where that market is going. To take advantage of this opportunity – and to help build a more prosperous and sustainable society – we facilitated the merger of those two complementary businesses into a single entity.

Together, we build a leading company

A 180-day plan was devised for integrating the two companies, allowing the merger of management teams and commercial efforts while keeping up to speed on the order pipeline. Roles are clearly allocated: Itho Daalderop makes sure that Gimv receives the right information to make investment decisions and Gimv gives Itho Daalderop the freedom to run the business. 

The next steps in value creation included raising awareness of the group, optimising manufacturing costs for key products, and focusing R&D on heat pumps and other product groups critical to becoming a complete HVAC solution provider for the energy-efficient home of the future. Looking further ahead, the merged company aims to grow in the Netherlands and expand into Belgium and Luxembourg, which have similar markets. Also on the cards is eventual expansion into Germany, UK, France and Scandinavia.

2 December 2020 we announced that Gimv will sell its majority stake in Climate for Life Holding, the merger partner above Itho Daalderop and KlimaatGarant - meanwhile Dutch market leader in integrated sustainable solutions for energy-neutral living in the Benelux - to Parcom. After a strong growth path, including a doubling of turnover since Gimv's entry,  the company is entering a new phase. Bas Korte remains on board as CEO of the group.

Our partnership visualised

Summary

Activity
Provider of complete HVAC solutions in the residential renovation and new build markets
Location
Netherlands
Entry
Revenue
EUR 133 m (2019)
Exit date
2020
Staff
450