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Purmo Group

Full company profile

uuid000beup

Namestring
Purmo Group
Legal namestring
Purmo Group
Websiteurl
https://www.purmogroup.com/
Company typeenum
Private
Founded yearint
1953
Descriptiontext

Purmo Group is a Finland-based provider of indoor climate comfort solutions, headquartered in Helsinki and listed on the Helsinki Stock Exchange (ticker PURMO). The company serves residential and commercial building markets across Europe, with a product portfolio anchored on radiators and increasingly extended into air-to-water heat pumps and integrated ventilation systems for building decarbonization. Underlying technology is hardware-centric: thermal heat transfer systems, heat pump refrigerant cycles, and building ventilation, marketed and sold via B2B enterprise field sales and direct sales channels into installer, specifier, and project-based customers.

The business model is primarily hardware sales of heating and cooling systems, with revenue tied to unit shipments of radiators, heat pumps, and ventilation products to commercial and residential building projects. Purmo's owned by Apollo and Rettig following a $658 million acquisition, with Rettig's April 2024 funding round reinforcing that ownership. Growth is executed through strategic M&A: in October 2024 Purmo acquired Dublin-based Unitherm Heating Systems Ltd for an undisclosed amount, adding 65 employees, EUR 28.2 million in 2023 net sales, and an Ireland/UK regional headquarters. Geographic footprint covers Finland, Ireland, and the UK, with horizontal segmentation across residential and commercial use cases and no public pricing transparency beyond quote-based enterprise sales.

Short descriptiontext

Purmo Group is a Finland-headquartered HVAC systems provider selling radiators, air-to-water heat pumps, and ventilation products to residential and commercial building markets across Europe via B2B enterprise field sales.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
1,001–5,000
akta.pro rankint
HeadquartersHelsinki, Finland
HQ citystring
Helsinki
HQ countrystring
Finland
HQ regionstring
Europe
Markets served

Serves global market

Offices2 records

Each record includes

City, Country, Type, Description, Source

Keyword5 values
radiator heating systems, heat pump solutions, ventilation systems, indoor climate comfort, sustainable heating cooling
Industry3 codes
1Chillers, Boilers & Central Plant Operations
CodeBPABACAGPrimaryYes
2Heat Exchangers & Thermal Transfer Equipment
CodeIMAHAKACPrimaryNo
3Heat Pump Repair & Maintenance
CodeHSAOAHADPrimaryNo
NAICS code3 codes
  • Heating Equipment (except Warm Air Furnaces) Manufacturing333414
  • Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing333415
  • Power Boiler and Heat Exchanger Manufacturing33241
SIC code3 codes
  • Heating Equipment, Except Electric & Warm Air Furnaces3433
  • Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip3585
  • Industrial & Commercial Fans & Blowers & Air Purifing Equip3564
Product category
Heating and Cooling Equipment (HVAC)
Social media profiles1 record
GTM motion2 records

Each record includes

Type, Description, Source

Revenue model2 records
1Heat Pump and Climate Solutions Sales
TypeHardware Sales
Description

Revenue generated from the sale of heating and cooling systems including air-to-water heat pumps, ventilation systems, and related climate solutions for residential and commercial applications.

marketscreener.com
2Renewable Heating Technologies
TypeHardware Sales
Description

Solutions centered around renewable heating technologies including heat pumps, supporting the transition to sustainable heating in residential and commercial sectors.

marketscreener.com
Distribution channels1 record

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components6 values
Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure
GTM typeB2B
B2B
Offering typeHardware or Manufacturing
Hardware or Manufacturing
Core offering1 text field

Purmo Group manufactures and supplies sustainable indoor climate comfort solutions, fundamentally selling radiators, air-to-water heat pumps, and heat recovery ventilation systems for heating and cooling. The portfolio is targeted at both residential and commercial building applications, with a sustainability-first design approach emphasizing energy efficiency and climate-responsive performance.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

Purmo Group is a Finland-based heating and cooling systems provider owned by investment firm Apollo. The company's portfolio includes climate solutions centered around heat pumps and renewable heating technologies. In October 2024, Purmo Group acquired Unitherm Heating Systems Ltd, a Dublin-based company specializing in air-to-water heat pumps and ventilation systems for residential and commercial applications, strengthening Purmo's presence in Ireland and the UK markets.

Product and service3 records
1Radiators
CategoryHeating equipment
Description

Radiators are heating products that deliver thermal comfort in residential and commercial buildings, manufactured and sold by Purmo Group as part of its sustainable indoor climate portfolio.

2Air-to-Water Heat Pumps
CategoryHeat pumps
Description

Air-to-water heat pumps are climate-responsive heating and cooling units that automatically adjust heat output based on prevailing weather conditions, suitable for both residential and commercial applications.

3Heat Recovery Ventilation Systems
CategoryVentilation systems
Description

Heat recovery ventilation systems provide energy-efficient air exchange for residential and commercial buildings, capturing heat from outgoing air to improve overall building energy performance.

Scale indicator3 records

Each record includes

Type, Value, Description, Source

Partnership1 partner
1Unitherm Heating Systems Ltd
Strategic tierFlagshipTypeStrategic or Co-development Partner
Description

Purmo Group acquired Unitherm Heating Systems on October 1, 2024. The Irish company specializes in air-to-water heat pumps and ventilation systems with 65 employees and EUR 28.2 million in net sales during 2023. The acquisition supports Purmo's strategy and expands market presence in Ireland and UK renewable heating technologies.

Recent move4 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight4 records

Each record includes

Type, Description

Market position
Competitive moat3 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers1 record

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment2 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature2 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles1 record

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

Subsidiaries1 record

Each record includes

Name, Acquired on, Relationship type, Type, Business focus

No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds1 record

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors1 record

Each record includes

Name, Type, Date of entry, Rounds participated, Website

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

M&A2 records

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

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

Purmo Group

Heating and Cooling Equipment (HVAC)purmogroup.com

Purmo Group is a Finland-headquartered HVAC systems provider selling radiators, air-to-water heat pumps, and ventilation products to residential and commercial building markets across Europe via B2B enterprise field sales.

What Purmo Group does

Purmo Group is a Finland-based provider of indoor climate comfort solutions, headquartered in Helsinki and listed on the Helsinki Stock Exchange (ticker PURMO). The company serves residential and commercial building markets across Europe, with a product portfolio anchored on radiators and increasingly extended into air-to-water heat pumps and integrated ventilation systems for building decarbonization. Underlying technology is hardware-centric: thermal heat transfer systems, heat pump refrigerant cycles, and building ventilation, marketed and sold via B2B enterprise field sales and direct sales channels into installer, specifier, and project-based customers.

The business model is primarily hardware sales of heating and cooling systems, with revenue tied to unit shipments of radiators, heat pumps, and ventilation products to commercial and residential building projects. Purmo's owned by Apollo and Rettig following a $658 million acquisition, with Rettig's April 2024 funding round reinforcing that ownership. Growth is executed through strategic M&A: in October 2024 Purmo acquired Dublin-based Unitherm Heating Systems Ltd for an undisclosed amount, adding 65 employees, EUR 28.2 million in 2023 net sales, and an Ireland/UK regional headquarters. Geographic footprint covers Finland, Ireland, and the UK, with horizontal segmentation across residential and commercial use cases and no public pricing transparency beyond quote-based enterprise sales.

Purmo Group firmographics

Firmographics
Name
Purmo Group
Legal name
Purmo Group
Website
https://www.purmogroup.com/
Company type
Private
Founded year
1953
Operating status
Operating
Headcount range
1,001–5,000 employees
Short description
Purmo Group is a Finland-headquartered HVAC systems provider selling radiators, air-to-water heat pumps, and ventilation products to residential and commercial building markets across Europe via B2B enterprise field sales.
Ownership category
akta.pro rank

Purmo Group industry classification

Industry
Product category
Heating and Cooling Equipment (HVAC)
NAICS
Heating Equipment (except Warm Air Furnaces) Manufacturing (333414), Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Power Boiler and Heat Exchanger Manufacturing (33241)
SIC
Heating Equipment, Except Electric & Warm Air Furnaces (3433), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Industrial & Commercial Fans & Blowers & Air Purifing Equip (3564)
akta.pro primary industry
Chillers, Boilers & Central Plant Operations (BPABACAG)
akta.pro secondary industries
Heat Exchangers & Thermal Transfer Equipment (IMAHAKAC), Heat Pump Repair & Maintenance (HSAOAHAD)

Keywords

  • Radiator heating systems
  • Heat pump solutions
  • Ventilation systems
  • Indoor climate comfort
  • Sustainable heating cooling

Where Purmo Group is headquartered

Location

Headquarters

HQ city
Helsinki
HQ country
Finland
HQ region
Europe

Offices2 records

Markets served

Purmo Group business model

Business model
GTM type
B2B
Offering type
Hardware or Manufacturing
Cost components
Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

  1. Heat Pump and Climate Solutions Sales: Revenue generated from the sale of heating and cooling systems including air-to-water heat pumps, ventilation systems, and related climate solutions for residential and commercial applications.
  2. Renewable Heating Technologies: Solutions centered around renewable heating technologies including heat pumps, supporting the transition to sustainable heating in residential and commercial sectors.

Go-to-market motion2 records

Distribution channels1 record

Purmo Group product offering

Product offering

Core offering

Purmo Group manufactures and supplies sustainable indoor climate comfort solutions, fundamentally selling radiators, air-to-water heat pumps, and heat recovery ventilation systems for heating and cooling. The portfolio is targeted at both residential and commercial building applications, with a sustainability-first design approach emphasizing energy efficiency and climate-responsive performance.

Product overview

Purmo Group is a Finland-based heating and cooling systems provider owned by investment firm Apollo. The company's portfolio includes climate solutions centered around heat pumps and renewable heating technologies. In October 2024, Purmo Group acquired Unitherm Heating Systems Ltd, a Dublin-based company specializing in air-to-water heat pumps and ventilation systems for residential and commercial applications, strengthening Purmo's presence in Ireland and the UK markets.

Differentiator

Problem solved

Functional benefit

Products and services

  • Radiators Radiators are heating products that deliver thermal comfort in residential and commercial buildings, manufactured and sold by Purmo Group as part of its sustainable indoor climate portfolio.
  • Air-to-Water Heat Pumps Air-to-water heat pumps are climate-responsive heating and cooling units that automatically adjust heat output based on prevailing weather conditions, suitable for both residential and commercial applications.
  • Heat Recovery Ventilation Systems Heat recovery ventilation systems provide energy-efficient air exchange for residential and commercial buildings, capturing heat from outgoing air to improve overall building energy performance.

Companies that use Purmo Group

Customer profile

Named customers1 record

Segments2 records

Ideal customer profiles1 record

Purmo Group technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature2 records

Purmo Group partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

  • Unitherm Heating Systems LtdflagshipStrategic or Co-development PartnerPurmo Group acquired Unitherm Heating Systems on October 1, 2024. The Irish company specializes in air-to-water heat pumps and ventilation systems with 65 employees and EUR 28.2 million in net sales during 2023. The acquisition supports Purmo's strategy and expands market presence in Ireland and UK renewable heating technologies.

Scale indicators3 records

Recent moves4 records

Expansion highlights4 records

Purmo Group competitors and assessment

Company assessment

Market position

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Purmo Group social profiles

Digital presence

Purmo Group financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Purmo Group leadership team

Management profile

Number of profiles

Profiles1 record

Purmo Group subsidiaries and ownership

Company hierarchy

Subsidiaries1 record

Purmo Group funding detail

Funding detail

Funding overview

Funding rounds1 record

Investors1 record

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

Purmo Group M&A and investment

M&A and investment

M&A2 records

Investments

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

Frequently asked questions about Purmo Group

What does Purmo Group do?

Purmo Group manufactures and supplies sustainable indoor climate comfort solutions, fundamentally selling radiators, air-to-water heat pumps, and heat recovery ventilation systems for heating and cooling. The portfolio is targeted at both residential and commercial building applications, with a sustainability-first design approach emphasizing energy efficiency and climate-responsive performance.

Is Purmo Group a public or private company?

Purmo Group is a private company. It is classified as public and is currently operating.

When was Purmo Group founded?

Purmo Group was founded in 1953. It employs 1,001 to 5,000 people.

Where is Purmo Group based?

Purmo Group is headquartered in Helsinki, Finland, in the Europe region.

How does Purmo Group make money?

Two revenue lines are on record. Heat Pump and Climate Solutions Sales are the primary driver. The others are renewable Heating Technologies.

Does Purmo Group have an API?

No public API is recorded for Purmo Group.

What industry is Purmo Group in?

Purmo Group's product category is Heating and Cooling Equipment (HVAC). Its primary akta.pro industry code is BPABACAG, Chillers, Boilers & Central Plant Operations, with a secondary code of IMAHAKAC, Heat Exchangers & Thermal Transfer Equipment. Its NAICS code is 333414 and its SIC code is 3433.

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Live signals
CT CorporationThe Impact of the New Foreign Subsidies Regulation on Dealmaking in EuropeThe European Union's Foreign Subsidies Regulation (FSR), designed to address distortive effects of subsidies granted by non-EU countries, has significantly impacted M&A transactions and public procurement in Europe, with notifications exceeding initial estimates of 30 M&A and 36 public procurement cases per year to over 100 and 1,300 respectively by October 2024. The regulation has led to foreign investors abandoning EU deals in several documented cases, including Haier's intended acquisition of Purmo and participation in public tenders for electric trains in Bulgaria and photovoltaic parks in Romania, due to FSR compliance uncertainty and timing risks. The Commission's first year of enforcement included a landmark approval of Emirates Telecommunications Group's acquisition of PPF Telecom Group subject to 10-year commitments to remove distortive subsidies, and a dawn raid on Chinese-controlled Nuctech, which was later upheld by the EU General Court.GlobeNewswireApollo Funds, together with Rettig, complete the acquisition of a 94.53% stake in Purmo Group PlcApollo-managed funds and Rettig completed the acquisition of a 94.53% stake in Purmo Group, a sustainable indoor-climate solutions company. The deal will delist Purmo from Nasdaq Helsinki, leaving Apollo funds with 80% and Rettig 20%. Purmo will continue operations for over 100,000 customers in more than 100 countries.PR NewswireHaier Will Not Proceed with Its Tender Offer for All the Shares in PurmoHaier Europe Appliances Holding B.V. has decided not to proceed with its voluntary public cash tender offer for all shares in Purmo Group Plc, announced on July 31, 2024. The tender offer, priced at EUR 13.59 per Class C Share and EUR 8.28 per Class F Share, was contingent on achieving 80 percent shareholder acceptance and the Board of Directors issuing a recommendation. After Purmo's Board recommended a competing offer from Project Grand Bidco (UK) Limited and shareholder support could not be secured, Haier determined the conditions to completion had become incapable of satisfaction and discontinued the offer.PR NewswireHaier Changes Timetable for the Commencement of the Offer Period under Its Tender Offer and Will Announce the New Timetable in Due CourseHaier Europe Appliances Holding B.V. announced on July 29, 2024, that it is changing the expected timetable for its voluntary public cash tender offer for all class C and class F shares in Purmo Group Plc, including delaying the publication of the tender offer document and the commencement of the offer period. The company stated it will publish a new timetable in due course while continuing negotiations with Purmo's Independent Committee and other constituencies following the board's recommendation on July 24, 2024. Haier remains committed to proceeding with the Tender Offer.PR NewswireHaier Intends to Continue Negotiations with Purmo Board to Make it Fully Appreciate the Merits of Haier's Superior OfferHaier Europe Appliances Holding B.V. announced on July 25, 2024, its intention to continue its voluntary public cash tender offer for Purmo Group Plc despite Purmo's Independent Committee endorsing a competing bid from Project Grand Bidco (UK) Limited. Haier claims its Class C Share Offer Price is approximately 23 percent higher than the competing bid and has committed approximately EUR 78 million regardless of the outcome, including agreeing to an outsized break-up fee and offering to purchase approximately 10 percent of Purmo shares. The company intends to continue negotiations with Purmo's Independent Committee to secure their support for its superior offer.