Vasco Group

What Vasco Group does

Vasco Group is a Belgian manufacturer of indoor climate solutions headquartered in Dilsen-Stokkem, with 501-1,000 employees and a product portfolio spanning designer radiators, panel radiators, bathroom radiators, electric radiators, aluminum and steel radiators, column radiators, fan coil units, underfloor heating, heat pumps, and ventilation systems. The company's technical foundation rests on an automotive-grade finishing process (KTL primer and powder coating baked at 200°C), broad product customization (50+ color options, including metallic and noble finishes), and a 10-year quality guarantee. Products are designed to be compatible with heat pumps and low-temperature heating systems (30-55°C water temperatures) for energy-efficient operation. The portfolio includes award-winning designs such as the Beams and Beams Mono aluminum radiators (Red Dot, Henry Van de Velde, OVAM Ecodesign), and is complemented by digital tooling: a Climate Control App for remote system management and an online Product Configurator for heat-load calculation.

Vasco operates a hybrid go-to-market: a pan-European authorized dealer and distributor network for both B2C (private individuals/homeowners) and B2B (installers, architects, project developers) sales, plus a direct B2B professional channel for commercial and large residential projects, and an own e-commerce webshop for accessories and selected products. Revenue is generated primarily through one-time hardware sales of radiators, ventilation systems, and accessories, with pricing not publicly disclosed but supported by a configurator-driven specification workflow. The company serves a hybrid customer mix of consumers seeking design-led heating, professionals specifying for projects, and commercial/hospitality accounts (e.g., Botanic Sanctuary Hotel Antwerp, Terhills Resort Dilsen).

Since February 2025, Vasco has been owned by Midea Group following Midea's acquisition of ARBONIA Climate. Together with Clivet, Vasco now operates under the MBT Climate umbrella, trading as "MBT Climate Benelux," and the Vasco brand is retained for the product line. The company continues to operate its Benelux-rooted business while gaining access to Midea's global resources and a broader combined European HVAC product portfolio.

Name

Vasco Group

Legal name

Vasco Group NV

Website

https://vasco.eu

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Vasco Group is a Belgian manufacturer of designer radiators, ventilation, underfloor heating, and climate systems, serving homeowners, installers, architects, and commercial clients across Europe. It operates a pan-European dealer network, the Brugman sub-brand, and since 2025 sits within Midea Group's MBT Climate.

Ownership category

akta.pro rank

Product category

Heating, Ventilation and Climate Control Equipment

NAICS

Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341), Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Automatic Environmental Control Manufacturing for Residential, Commercial, and Appliance Use (334512)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures (3430), Auto Controls For Regulating Residential & Comml Environments (3822)

akta.pro primary industry

HVAC, Water Heaters & Indoor Air Quality Distribution (CRAOAFAJ)

Keywords

• Designer radiators
• HVAC solutions
• Ventilation systems
• Underfloor heating
• Climate control products

Headquarters

HQ city

Dilsen

HQ country

Belgium

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Radiator Sales: Sale of designer radiators, panel radiators, bathroom radiators, and electric radiators for residential and commercial applications
2. Ventilation Systems: Sales of ventilation systems including central ventilation and decentralized solutions
3. Accessories: Sale of radiator accessories, valves, towel rails and related products through webshop
4. Professional/Project Sales: B2B sales to professionals, installers, and project developers for commercial and residential projects

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Vasco Group designs, manufactures, and sells indoor climate products — including designer, panel, bathroom, electric, aluminum, steel, and column radiators, plus heat pumps, underfloor heating, fan coil units, and ventilation systems — for residential and commercial applications across Europe. Offerings are sold directly to professionals (installers, architects, project developers) and through an authorized dealer network and webshop to private individuals. The portfolio is supported by a Climate Control app, online product configurator, and a 50+ color customization program, and is backed by a 10-year quality guarantee.

Product overview

Vasco Group offers a comprehensive indoor climate solutions portfolio combining heating, cooling, and ventilation products for both residential and commercial applications. The product range centers on designer radiators (including Beams, Niva, FlatLine, Zana, Carré, Tulipa, ONI, E-Panel, and Ineo collections), panel radiators, bathroom radiators, electric radiators, aluminum and steel radiators, and column radiators. These are complemented by heating systems including heat pumps, underfloor heating, and fan coil units. Vasco also provides digital tools such as the Climate Control App and Product Configurator, along with extensive color customization options. The company operates under the MBT Climate umbrella following Midea Group's acquisition of ARBONIA Climate in 2025, alongside the Brugman panel radiator brand.

Differentiator

Problem solved

Functional benefit

Products and services

• Beams Aluminum Design Radiator Designer aluminum radiator with three vertical beam profiles that combines high thermal output with an architectural look, available in multiple sizes and color finishes.
• Beams Mono Electric Radiator Electric variant of the Beams aluminum radiator, featuring additional fins for increased heat output and a hidden electrical resistance element; specified for the Botanic Sanctuary Hotel Antwerp.
• Niva Wall-Mounted Radiator Sleek and discreet wall-mounted radiator available in vertical and horizontal versions, with a Soft variant featuring rounded corners.
• FlatLine Panel Radiator Sleek panel radiator with a flat front plate, providing high thermal output and an elegant finish; available in vertical, horizontal, and low versions.
• Zana Design Radiator Contemporary design radiator with elegant lines and high thermal output, offered in over 40 colors.
• Carré Design Radiator Collection Design radiator collection offered in horizontal, vertical, semi-circular, and corner versions, featuring flat tubes that create rhythmic line patterns.
• Tulipa Column Radiator Reinterpreted column radiator with refined thin ribs, delivering cozy radiant warmth in horizontal and vertical configurations.
• ONI Ultra-Slim Aluminum Radiator Ultra-slim minimalist aluminum radiator with soft lines and a rounded edge-free profile, combining an 8 mm aluminum panel with a copper tube structure for optimal hot-water conduction.
• E-Panel Electric Panel Radiator Stylish electric panel radiator marketed as the most elegant electric radiator in the Vasco range.
• Ineo Design Radiator Design radiator with radiant styling, positioned for the professional/specifier segment.
• Panel Radiators Flat panel radiators combining a sleek profile with high thermal output for efficient heating across residential and commercial spaces.
• Bathroom Radiators Radiators designed for bathroom use, often incorporating towel-warming functionality and pairing with central heating or electric-only operation.
• Fan Coil Units Heating and cooling units that use a fan to circulate air through a heat exchanger, enabling rapid temperature control in residential and commercial applications.
• Heat Pumps Heat pump systems for sustainable heating and cooling, part of the Dynamic Ecosystem offering and designed to work with Vasco radiators and low-temperature systems.
• Ventilation Systems Mechanical ventilation systems for healthy indoor climate, including central and decentralized solutions and installations for large commercial spaces.
• Underfloor Heating Low-temperature floor heating systems that can be combined with radiators for comprehensive room-by-room climate control.
• Radiator Accessories Designer valves, thermostat valves, towel rails, and complementary products for radiators, sold through the Vasco webshop and dealer network.
• Brugman Panel Radiators Panel-radiator range marketed under the Brugman sub-brand to specific market segments, complementary to Vasco's designer radiator lines.

Quantifiable outcome

• 10-year quality guarantee on all radiators including paint finish and water resistance
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Midea GroupcoreStrategic or Co-development Partner · 27 February 2025Midea Group completed acquisition of ARBONIA Climate, making Vasco part of MBT Climate under Midea Group. This creates a major player in the HVAC sector in Europe combining expertise, innovative strength, and broad product portfolio.
• ClivetcoreStrategic or Co-development PartnerClivet forms part of MBT Climate together with Vasco/ARBONIA Climate under Midea Group, creating a combined European HVAC leader
• VersaniminorChannel Partner/ Reseller/ DistributorVersani is a distributor of Vasco heating systems, mentioned in the Botanic Sanctuary Hotel project reference as the distributor for the heating solution

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Daikin: Global HVAC leader with a broad portfolio including heat pumps, ventilation, and refrigerant-based systems; a much larger incumbent that increasingly competes with Vasco as heating becomes heat-pump-centric.
• Bosch Thermotechnology: Major European HVAC brand offering heating systems, heat pumps, and integrated climate solutions through the Bosch network — a broad incumbent competing with Vasco across both B2B installer channels and end-customer markets.

Direct peers

• Purmo Group: European leader in sustainable indoor climate solutions including radiators and underfloor heating, competing head-to-head with Vasco across design and panel radiator categories across Benelux and wider Europe.
• Jaga: Belgian manufacturer of design radiators, fan coil units, and climate solutions, directly competing with Vasco in Benelux and broader Europe with a similar design-led, low-temperature-heating-system focus.
• Runtal: Swiss/European premium design radiator brand (part of Zehnder Group) competing with Vasco in the high-end designer radiator segment with a similar aesthetic and customization-led value proposition.
• Arbonia: Swiss manufacturer of climate solutions (radiators, underfloor heating, ventilation), and Vasco's former parent prior to Midea's 2025 acquisition of ARBONIA Climate. Highly comparable in product portfolio, geography, and customer base.
• Henrad: UK radiator manufacturer (part of Stelrad Group) producing panel radiators across Europe, comparable to Vasco's panel radiator and broader hydronic heating offering for residential and commercial applications.
• Stelrad: UK-based radiator manufacturer (part of Castleton) producing panel and designer radiators for residential and commercial applications, overlapping with Vasco in panel and design radiator segments across Europe.
• Zehnder Group: Swiss-headquartered designer of premium radiators and ventilation systems, directly competing with Vasco across both product lines in European markets. Closest like-for-like competitor in design-led hydronic heating and indoor climate solutions.
• Bisque: UK-based designer radiator specialist offering decorative column and modern radiators with extensive color and finish options, directly comparable to Vasco's design-led, color-customization approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/c/Vascobenelux/featured
• Facebookfacebook.com/VascoBrandofArboniaHVAC
• LinkedInlinkedin.com/company/vascoabrandofarboniahvac
• Instagraminstagram.com/vascobrandofarboniahvac
• Pinterestnl.pinterest.com/VASCObenelux/_created

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vasco Group