Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

HRV acquires leading heat pump company – boosts group size

HRV acquires leading heat pump company – boosts group size

Home solutions company HRV continues its dynamic growth with the purchase of two leading Auckland businesses – making it four acquisitions in two years.

The company has bought heat pump business Energy Efficient Solutions (EES) and parts manufacturer and distributor HVAC Hero which complements HRV’s other recent acquisitions, including a windows and retrofit double glazing business.

The last two years has seen rapid growth for HRV, with group wide revenues expected to exceed $85 million this year courtesy of customer levels hitting 150,000, increased ventilation sales, and high uptake of both HRV Water and HRV Windows.

The latest acquisition is part of HRV’s move to a total home solutions company and its focus on diversifying its product range, which also includes ventilation systems, whole home water filtration, and retrofit double glazing.

CEO Bruce Gordon says EES is the perfect enhancement to HRV’s existing product range and complements plans for further diversification in the future.

“HRV may have started out as a ventilation company but our focus now is on total home solutions which means we’re able to provide a whole range of different products to homeowners,” says Mr Gordon.

“EES shares HRV’s values which makes it a great fit and their success comes down to their committed and talented team. As market leaders, EES and HVAC Hero both further enhance HRV's unique position in the market of offering solutions direct to customers' homes.”

EES, which started four years ago and employs 65 staff, specialise in fully ducted heat pump systems and has grown rapidly with more than 9000 customers across Auckland.

Mr Gordon says the two new companies will continue to run as stand-alone businesses however under HRV ownership, which employs 550 staff across New Zealand, EES is set for further growth on a national level.

“Kiwis are becoming more and more aware of the importance of living in a warm and dry home, and HRV is constantly growing and refining its product range to help meet this demand,” says Gordon.

“With this increasing diversification, and our plans for growing the company further, HRV is stronger than it’s ever been after 13 years serving New Zealand homeowners.”

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Retail: International Websites To Pay GST

New rules would be aimed at imported goods valued at or below $1,000. Customs would retain responsibility for collecting GST on imported parcels valued more than $1,000. More>>

ALSO:

High-Level Advice: PM’s Business Advisory Council Membership Announced

The Prime Minister’s Business Advisory Council brings together a mix of experts, six women and seven men with small to large business experience, from across New Zealand, to provide advice. More>>

ALSO:

Improving: Report Shows New Zealand Air Quality 'Good'

Our air 2018, produced by the Ministry for the Environment and Stats NZ, shows that while some previously known issues persist, progress has been made and levels of some pollutants are declining. More>>

ALSO:

Greenpeace: Govt Extends OMV Exploration Permit

The Government has just granted oil giant OMV a two-year extension to drill in the Great South Basin, despite issuing a ban on new oil and gas exploration permits in April. More>>

ALSO:

Collective Bargaining For Contractors: Working Group's Model For Screen Sector

A recommended model to allow collective bargaining for contractors in the screen sector has today been unveiled by the Government-convened Film Industry Working Group. More>>

ALSO:

Kauri Dieback: DOC Closing Tracks To Protect Trees

The Department of Conservation will close 21 tracks across kauri land to help prevent the spread of kauri dieback. An additional 10 tracks will also be partially closed and the open sections upgraded... More>>