Apen Group

What Apen Group does

Apen Group S.p.A. is an Italian industrial heating and cooling equipment manufacturer founded in 1967 (originally as Thermovür, merged with Aermax in 1991 to form the current entity), headquartered in Pessano con Bornago, Milan. The company designs and manufactures a comprehensive portfolio of heating technologies for industrial and commercial facilities, including condensing boilers (AKN/AKZ series), electric heat pumps (air-to-air and air-to-water), hybrid systems combining boilers with heat pumps (AquaPump Hybrid, Sistema Ibrido), axial fan heaters (AX series), warm air generators, destratifiers, evaporative cooling systems, and modular heat exchangers (Serie GH-N Standard, 32-1050 kW) for roof-top units, AHUs, and industrial processes. Underlying technology centers on heat exchanger engineering in stainless steel, titanium, and copper constructions, with low-NOx modulating gas burners and high seasonal COP/SEER coefficients.

The company serves B2B customers across at least ten distinct use-case segments — industrial facilities, offices, laboratories, warehouses, sports venues (gyms, pools, padel courts), places of worship, retail/supermarkets, hospitality (Ho.Re.Ca.), greenhouses, automotive workshops, and woodworking/tanneries — with industrial facilities and sports facilities as primary segments. Revenue is generated predominantly through hardware sales of complete systems, supplemented by technical consulting and custom project design services. The go-to-market is enterprise field sales via a network of specialized regional agents in Italy and a dedicated export department for international markets, with end-customer pricing not publicly disclosed and quotes handled on a project basis.

Name

Apen Group

Legal name

APEN GROUP S.P.A.

Website

https://apengroup.com

Company type

Private

Founded year

1967

Operating status

Operating

Headcount range

11–50 employees

Short description

Apen Group is an Italian industrial heating and cooling equipment manufacturer (founded 1967) producing boilers, heat pumps, hybrid systems, and heat exchangers for factories, warehouses, sports facilities, offices, and other commercial environments across Italy and five other European countries.

Ownership category

akta.pro rank

Product category

Industrial HVAC and Heating Equipment Manufacturing

NAICS

Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341), Power Boiler and Heat Exchanger Manufacturing (332410)

SIC

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

akta.pro primary industry

Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC)

akta.pro secondary industries

Heat Exchangers & Thermal Transfer Equipment (IMAHAKAC), HVAC & Industrial Ventilation (Chillers, AHUs, Exhaust, Filtration) (EUAEAFAE)

Keywords

• Industrial heating systems
• HVAC equipment manufacturing
• Heat exchanger modules
• Condensing boilers industrial
• Air handling units

Headquarters

HQ city

Milan

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

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. Industrial Heating Equipment Sales: Manufacturing and selling industrial heating systems including boilers, heat pumps, fan heaters, air heaters, and destratificators. Products are sold through a network of agents and direct export channels.
2. Heat Exchanger Modules: Production and sale of heat exchanger modules for industrial processes, roof-top units, air handling units (AHU), and swimming pool applications.
3. Technical Consulting and Custom Design: Technical consultation services for system design, custom project solutions, and after-sales technical support services.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Apen Group manufactures and supplies industrial heating and cooling systems, including hybrid systems (boiler plus heat pump), condensing boilers, electric heat pumps, water-based air heaters (Aerotermi), warm air generators, destratifiers, and evaporative coolers. It also produces plate and shell-and-tube heat exchanger modules for Roof Top units, Air Handling Units (AHU), and industrial processes, with capacities ranging from 32 kW to 1050 kW. The products are engineered for factories, warehouses, sports facilities, offices, laboratories, hospitality venues, places of worship, greenhouses, and other commercial or industrial sites.

Product overview

Apen Group offers a comprehensive portfolio of industrial heating and cooling solutions, comprising multiple product categories: hybrid systems combining boilers with heat pumps (Sistema Ibrido), electric heat pumps (Pompa di Calore Elettrica) including AquaPump Hybrid and AquaPump Electric, boiler systems with air handlers (Sistema Caldaia con Aerotermo), condensing boilers (AKN series), water-based air heaters (Aerotermi including Serie AX), warm air generators (Generatori Aria Calda including LKH hybrid), destratifiers, evaporative cooling, and heat exchanger modules for Roof Top units/UTA and industrial processes (Serie GH-N Standard from 32-1050 kW). The products serve diverse environments including industrial facilities, warehouses, sports venues, gyms, swimming pools, places of worship, and greenhouses, using various energy sources (diesel, electricity, natural gas, LPG, and condensing technology).

Differentiator

Problem solved

Functional benefit

Products and services

• Sistema Ibrido (Hybrid Heating System) Hybrid industrial heating system combining a gas boiler with a heat pump, automatically modulating the heat source based on external temperature and required loads for industrial and commercial facilities.
• Electric Heat Pump (Pompa di Calore Elettrica) High-efficiency electric heat pump system available in air-to-air and air-to-water versions, drawing energy from air, water, or ground sources for industrial and commercial heating and cooling.
• Condensing Boilers (Caldaie, AKN and AKZ series) High-efficiency condensing boilers (AKN and AKZ series) with stainless steel heat exchangers and low-NOx modulating gas burners, designed for industrial facilities and sports venues.
• Aerotermi (Water-based Air Heaters, AX series)

Quantifiable outcome

• EU Ecodesign compliant products meeting 2021 efficiency standards
• +2 more outcomes

Named customers4 records

Segments10 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered minor and core.

• Move City SportminorGTM or Marketing Partner · 1 October 2024Participated in the 2nd edition of Move City Sport exhibition (October 2024), Italy's first fair dedicated to sports facilities and infrastructure, presenting the AKN condensing boiler series.
• AC MonzacoreGTM or Marketing Partner · 1 August 2024Silver Sponsor partnership renewed for the 2024-25 football season. Apen Group provides heating solutions for sports facilities while gaining brand visibility through the club's communications and stadium presence.

Scale indicators4 records

Recent moves8 records

Expansion highlights4 records

Broad incumbents

• Viessmann: German heating manufacturer offering industrial heat pumps, boilers, and HVAC systems at global scale. Overlapping product technology in industrial heating, but with much broader portfolio and multinational footprint than Apen.
• Bosch Thermotechnology: Division of Bosch producing heating, hot water, and HVAC systems for residential, commercial, and industrial applications. Comparable in industrial heating and heat pump technology, but with massive global scale, R&D resources, and digital/connected product capabilities.
• BDR Thermea Group: European heating multinational with brands including Baxi, De Dietrich, and Remeha serving commercial and industrial markets. Overlapping product categories in boilers and heat pumps, but at much larger enterprise scale across Europe.

Direct peers

• Weishaupt: German manufacturer of burners, condensing heating systems, and industrial heat pumps. Directly comparable in industrial burner and combustion-based heating technology, particularly relevant for Apen's German market presence.
• Fondital: Italian heating manufacturer producing radiators, condensing boilers, and HVAC systems for residential, commercial, and industrial segments. Comparable in Italian heating market with overlapping boiler and thermal product offerings.
• Robur S.p.A. Italian manufacturer of condensing boilers, gas-fired heaters, and heat pumps for industrial and commercial applications. Direct competitor to Apen in Italian industrial heating with overlapping product categories including hybrid and high-efficiency gas systems.
• Ariston Group: Italian multinational heating and hot water solutions provider with commercial and industrial product lines including condensing boilers and heat pumps. Closely comparable technology, Italian heritage, and European market presence, though at significantly larger scale.
• Riello S.p.A. Italian manufacturer of burners, boilers, and industrial heating systems with strong presence in combustion-based heating. Highly comparable as a domestic competitor serving similar industrial customer segments with overlapping technology.
• Lamborghini Calor (CLM Group): Italian industrial heating manufacturer producing boilers, heat pumps, and integrated HVAC systems under multiple brands including Lamborghini Calor. Direct competitor in the Italian industrial and commercial heating market.

Regional players

• Systemair AB: Swedish ventilation and HVAC manufacturer serving European commercial and industrial markets with fans, air handling units, and heating products. Comparable in industrial HVAC ventilation and thermal equipment, but with broader product scope and Nordic-origin distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

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Compliance5 records

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 Apen Group