News
VIESSMANN GROUP
INVESTS IN THERMOWISE
T
to operate the business. “In ThermoWise we have found the
perfect partner who provides us with a strong platform and
long-term access to many attractive sub-Saharan African
markets,” says Timo Tauber, managing director of Viessmann
Investment.
Arnold Retief, CEO of ThermoWise, says, “With Viessmann
on board, we have a new economically strong, internationally
recognised partner who will support our expansion strategy.”
CFO, Sitha Rajkoomar adds, “Over the last decade, we have
successfully positioned ourselves as a premium supplier in
the South African market. Through this new affiliation, our
customers and partners will benefit in the long term from
Viessmann’s innovative power and its unique Integrated
Solution Offering.” RACA
he Viessmann Group announced in March that it has acquired
a 40% stake in the South African company ThermoWise.
The new cooperation lays the foundation for Viessmann’s
successful entry into the South African market and other fast-
growing African markets. ThermoWise is headquartered in
Durban, in the KwaZulu-Natal province.
The company is a leading installation and service provider
specialising in major projects such as hospitals, shopping
centres, hotels and housing complexes. Its range of services
includes the planning, installation and servicing of complex
heating centres, with a special focus on heat pumps and
commercial heat generators.
Current shareholders Arnold Retief and Sitha Rajkoomar
will retain a majority interest in ThermoWise and will continue
The Gateway Hotel, a project done by ThermoWise.
www.hvacronline.co.za
RACA Journal I May 2020
7