What Cotherm does

Cotherm SAS is a privately-held French industrial company, founded in 1948 and headquartered in Vinay, France, that designs, manufactures, and sells thermal regulation devices including thermostats, heating elements, safety limiters, combistats, and electronic controllers. The company operates a three-site manufacturing network across France, Tunisia (producing approximately 50% of output), and Egypt, employs 500+ people globally, and exports to more than 60 countries. Its proprietary technology portfolio includes patented X-ring thermal cut-out systems, Memory Spring Technology for plug-in rod thermostats, and EcoFlex technology certified for EU Ecodesign compliance, alongside electronic controllers featuring self-learning algorithms and cloud connectivity.

The company serves equipment manufacturers (B2B) across five primary markets: water heating (its core market with 70+ years of OEM relationships), renewable energies (heat pump water heaters showing multi-year 2-digit growth), heating and ventilation, food service, and industrial applications. Revenue is generated primarily through hardware sales of thermal components, complemented by professional services including pre-wired sub-assembly solutions (over 1,000,000 units delivered) and collaborative R&D/qualification services through in-house laboratories. Distribution combines direct enterprise sales with a regional headquarters in Warwick, Rhode Island (serving the Americas since 1999) and an aftermarket spare parts distributor network. Pricing is quote-based and customized per application, with multi-year enterprise contracts as the standard commercial structure.

Name

Cotherm

Legal name

Cotherm SAS

Website

https://cotherm.com

Company type

Private

Founded year

1948

Operating status

Operating

Headcount range

251–500 employees

Short description

Cotherm SAS is a French industrial company founded in 1948 that designs and manufactures thermal regulation devices (thermostats, heating elements, safety limiters, electronic controllers) for B2B equipment manufacturers across water heating, heat pumps, HVAC, food service, and industrial markets globally.

Ownership category

akta.pro rank

Product category

Thermal Control Components

NAICS

Automatic Environmental Control Manufacturing for Residential, Commercial, and Appliance Use (334512), Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Heating Equipment, Except Electric & Warm Air Furnaces (3433)

akta.pro primary industry

Refrigeration Components & Controls (Compressors, Valves, Sensors) (IMAHAKAH)

akta.pro secondary industry

Heat Exchangers, Coils & Hydronic HVAC Components (IMADANAF)

Keywords

• Thermal control devices
• Heating elements
• Thermostats and safety limiters
• Electronic temperature controllers
• Water heating components

Headquarters

HQ city

Vinay

HQ country

France

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Thermal Control Products: B2B manufacturer supplying thermostats, heating elements, safety limiters, electronic controllers, and combistats to equipment manufacturers across water heating, renewable energies, HVAC, food service, and industrial sectors.
2. Genuine Spare Parts: Aftermarket sales of genuine spare parts for installed equipment, serving maintenance and replacement needs of end customers and service providers.
3. Wiring Services: Pre-wired component solutions and wiring services for manufacturers, offering turnkey solutions that reduce assembly time and quality risks for customers.
4. R&D and Engineering Services: Collaborative product development, testing, and qualification services through Cotherm laboratories to support customer product strategy and regulatory compliance.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Cotherm designs, manufactures, and sells thermal regulation devices — including thermostats, heating elements, safety limiters, electronic controllers, and combistats — for OEM equipment manufacturers in water heating, renewable energies, HVAC, food service, and industrial applications. The company complements its hardware portfolio with a pre-wired component service and collaborative R&D and qualification support in its in-house laboratories.

Product overview

Cotherm is a thermal control solutions provider offering an integrated portfolio of heating elements and temperature management products. The product lineup includes three categories: Thermostats (capillary, plug-in rod, wire-connected rod, and encased controls), Combined Control Units (single and three-phase combistats integrating regulation and safety), and Electronic Controllers with smart algorithms. Supporting products include safety limiters, heating elements (copper/stainless steel for immersion, ceramic for drytech), and the PIL smart regulator kit. The company also provides a wiring service for pre-assembled components. These products serve markets including water heating, renewable energies, heating & ventilation, food service, and industry.

Differentiator

Problem solved

Functional benefit

Products and services

• Single phase Combistats Compact single pole regulation devices that combine thermal control and safety functions in one housing, designed to reduce handling and wiring errors while improving reliability and assembly time for OEMs of water heaters and electric heaters.
• 3-phase Combistats High power rated combistats combining three-phase thermostat and safety device functions in a single housing, capable of driving high power for industrial applications and severe environments.
• Safety Limiters Temperature and power safety devices built for reliability, temperature stability, and repeatability, featuring liquid-expanding capillary technology, positive safety capillary, and the exclusive X-ring thermal cut-out technology for water heater safety applications.
• Electronic Controllers Platform-based electronic control solutions for water heaters, electric heaters, and multi-source heat pumps, featuring smart self-learning algorithms, cloud connectivity, and conformity to ecodesign regulations.
• Capillary Thermostats Universal thermal regulation devices designed for temperature accuracy and stability in a compact footprint, available with fixed or adjustable control, food-compatible variants, and an EcoFlex version compliant with European Ecodesign directives.
• Plug-in Rod Thermostats Direct plug-in rod thermostat range providing temperature control and safety limiter functions, available with bimetal disk or patented Memory Spring Technology for reliable and easy assembly on compatible immersion heaters.
• Wire-connected Rod Thermostats Flexible thermostat technology compatible with ceramic, immersion, drytech heaters or any heating source, combining temperature regulation and optional integrated safety in a single compact cabinet.
• Encased Controls Encased thermal regulation devices that house capillary thermostats or electronic control cards adapted to various mounting configurations, offering protection against corrosion, dust, and water, and compliance with safety standards.
• Cotherm PIL Smart Regulator Kit All-in-one Eco 7 compatible thermostat with built-in SMART energy saving technology, offering reduced installation time for installers and lower energy consumption for end users.
• Heating Elements Electric heating elements including copper and stainless steel thermoplongeurs and stainless steel and ceramic drytech solutions, designed for optimal efficiency when combined with Cotherm thermostats.
• Cotherm Wiring Service Pre-wired component service providing turnkey, secure, and quality-compliant wiring for thermostats, safety devices, and electronic cards, reducing customer supply chain constraints and assembly time.
• Genuine Spare Parts Aftermarket genuine Cotherm spare parts supplied through recommended distributors for maintenance and replacement needs of installed thermal control equipment.

Quantifiable outcome

• 50% revenue growth in 4 years
• +4 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature6 records

Scale indicators9 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Resideo Technologies: Spun off from Honeywell in 2018 to focus on home comfort and security, Resideo manufactures Honeywell Home branded thermostats and water-heater controls. Direct head-to-head competitor in mechanical and electronic thermostats, safety limiters, and heating controls sold through OEMs and distribution channels serving Cotherm's same customer segments.
• Danfoss: Danish multinational producing heating, ventilation, and refrigeration components including thermostats, electronic controllers, valves, and sensors for HVAC and water-heating OEMs. Direct competitor across mechanical and electronic temperature controls for Cotherm's water heating, renewable energy, and HVAC customer base.
• Watts Water Technologies: US-based water systems specialist manufacturing valves, flow products, and water-heater controls including electronic and mechanical regulators for OEM and aftermarket channels. Direct competitor to Cotherm in water-heating thermostats, safety limiters, and heating elements sold to OEM water heater manufacturers.
• White-Rodgers (Copeland): Major US manufacturer of HVAC controls under the White-Rodgers and Copeland brands, including thermostats, temperature sensors, and electronic controllers for residential and commercial heating equipment. Direct competitor in mechanical and electronic temperature controls serving North American OEMs.
• Backer Group: Swedish heating element specialist producing tubular and immersion heaters and custom heating solutions for domestic, industrial, and HVAC applications. Direct competitor to Cotherm's heating element product line and a peer in supplying OEM customers with combined thermal components across European markets.
• IMIT Control: Italian manufacturer of mechanical thermostats, electronic controllers, and safety devices for water heating, HVAC, and industrial applications. Direct competitor serving European OEMs with a similar product mix to Cotherm, including capillary and bimetal thermostats, and a comparable niche specialty player profile.
• Thermowatt: Italian heating-element manufacturer producing tubular and immersion heating elements, ceramic drytech solutions, and thermostats for water-heating OEMs. Direct competitor to Cotherm's heating element line and a peer in serving the European water heating OEM market with integrated thermal components.

Broad incumbents

• Honeywell International: Global conglomerate whose Building Automation and Performance Materials divisions produce thermostats, combustion controls, and HVAC sensors. A much larger, broader incumbent whose HVAC and combustion control portfolio overlaps with Cotherm's electronic controllers and thermostats, defining the upper bound of competition Cotherm faces.
• Schneider Electric: Global specialist in energy management and automation with broad HVAC control offerings including electronic controllers, sensors, and connected building products under the Wiser/Thermostat family. A broader incumbent spanning multiple industrial and building domains, but with HVAC controller products that directly overlap Cotherm's electronic controller portfolio.
• Bosch Home Comfort (Thermotechnology): Bosch division producing HVAC, water heating, and renewable heating systems, often with integrated proprietary controls. A broader incumbent with comprehensive heating product lines—including its own controls—that competes both as a customer alternative and partially with Cotherm's component portfolio in heating, ventilation, and hot water generation.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cotherm

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

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 Cotherm