Alfa Therm

What Alfa Therm does

Alfa Therm d.o.o. is a privately held HVAC and Building Management System (BMS) engineering company headquartered in Mostar, Bosnia and Herzegovina, founded in 1987 by Davor Krezić. The company delivers turnkey thermal energy solutions across five integrated service lines: design solutions, mechanical installation, BMS/automation (including CNUS – Centralni nadzorni upravljački sustav), service and maintenance, and energy management. Technology stack includes DDC BACnet controllers, proprietary consumer-demand based energy source utilization models, Siemens Building X smart building platform integration, BIM coordination via 120+ Autodesk licenses, and IoT/AI-driven building analytics. Customers include enterprise clients across hotels (Valamar, Royal Hotels, Sheraton, Aminess), healthcare (SKB Mostar, St. Catherine), retail (Cinestar, Bingo, Mepas Mall, Delta Planet), industrial (Mahle, Voith, Tsubaki, Alloy Wheels, Union Foods), pharmaceuticals (Lonza CH), sports venues (Opus Arena), airports (Dubrovnik), and banking (Unicredit).

The business model is primarily project-based enterprise contracting with managed services for ongoing maintenance. Revenue derives from design fees, turnkey installation projects (visible contract values ranging from €2M to €65M), and recurring service/maintenance contracts. The go-to-market is direct enterprise field sales with engineering expertise embedded in the sales process, targeting large-scale construction and infrastructure projects. Geographic footprint spans Bosnia and Herzegovina, Croatia (offices in Metković and Samobor), and select EU projects (Switzerland, Croatia Technology Park Split/Dračevac). The company operates as a d.o.o. (private limited company) with no external institutional investors, 250+ employees, and 2,000+ completed projects since inception.

Strategic positioning emphasizes being a regional market leader with global ambitions, supported by ISO 9001/14001/45001 certifications, EcoVadis Bronze Medal (2025), and a 2024 rebrand to 'Trusted Engineering Solutions'. Key partnerships include core relationships with Siemens (solution partner for Building X) and Baupartner (co-contractor), plus equipment partnerships with Weishaupt, Vertiv, Daikin, Clivet, and York (Johnson Controls). The 2024 Mahle €20M contract demonstrates capability to displace international competition on large industrial tenders in the region.

Name

Alfa Therm

Legal name

Alfa Therm d.o.o. Mostar

Website

https://alfatherm.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

101–250 employees

Short description

Alfa Therm is a privately held Bosnian HVAC and Building Management System engineering company founded in 1987, delivering turnkey design, installation, BMS, and maintenance services to enterprise clients across hotels, healthcare, industrial, retail, and pharmaceutical sectors in Bosnia, Croatia, and EU markets.

Ownership category

akta.pro rank

Product category

HVAC and Building Management Services

NAICS

Plumbing, Heating, and Air-Conditioning Contractors (238220)

SIC

Auto Controls For Regulating Residential & Comml Environments (3822), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Industrial Instruments For Measurement, Display, And Control (3823)

akta.pro industry

PRIMARYIMAIABAA

HVAC Installation, Service & Repair

Industrials, Manufacturing & Construction/Industrial Services & Facility Operations/Building Maintenance & Repair (MEP/HVAC/Plumbing/Electrical)

Keywords

• HVAC systems design
• Building management systems
• Thermal energy solutions
• Clean room installations
• Energy management services

Headquarters

HQ city

Mostar

HQ country

Bosnia & Herzegovina

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. HVAC/BMS Design Services: Project design services for heating, ventilation, air conditioning and building management systems. Customized engineering designs meeting client needs and energy efficiency requirements.
2. HVAC/BMS Installation: Execution of mechanical works for HVAC systems. Turnkey delivery model including installation of heat pumps, air handling units, ventilation systems, and related equipment.
3. Service and Maintenance: Preventive maintenance and service contracts for HVAC systems. Ongoing support ensuring high air quality and operational savings for clients.
4. Smart Building Management: Central monitoring system providing software supervision and control of HVAC installations with integration capabilities for electrical, lighting, elevators and other building systems.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Alfa Therm designs, installs, and maintains HVAC and Building Management Systems (CNUS/BMS) for hotels, hospitals, commercial buildings, industrial facilities, and clean rooms, delivered through a turnkey model from engineering design through execution to preventive maintenance. The company also provides energy management and Smart Building solutions integrating IoT, AI, and data analytics, with proprietary consumer-demand based energy source utilization and BIM-based project coordination.

Product overview

Alfa Therm offers comprehensive thermoenergetic (thermal energy) solutions with a 'turnkey' model providing complete services from design through installation to maintenance. The core portfolio includes five integrated service lines: Projektna rješenja (Design Solutions), Izvođenje radova (Installation), Automatika/BMS (Building Management System), Servis i održavanje (Service and Maintenance), and Upravljanje energijom (Energy Management). The company differentiates through advanced technology platforms including Smart Building Systems with IoT/AI integration, BIM services with 120+ Autodesk licenses, and specialized Clean Room Technology for pharmaceutical and healthcare facilities. Services span multiple sectors: hotels, commercial buildings, retail, industrial, pharmaceutical, healthcare, and special-purpose facilities across Bosnia and Herzegovina, Croatia, and EU markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Projektna rješenja (Design Solutions)

Quantifiable outcome

• Reduction of thermal losses in distribution network through consumer-demand based energy management
• +4 more outcomes

Named customers22 records

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability5 records

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• BaupartnercoreStrategic or Co-development Partner · 1 August 2024Long-term partner from Gračanica, collaborated successfully on Mahle project. Together eliminated international competition and delivered 30,000 m² production facility.
• SiemenscoreTechnology or IntegrationSolution partner for smart building management. Implements Siemens Building X platform for centralized building control, IoT integration, and data analytics.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• ENGIE: Global energy and multi-technical services major with substantial HVAC, BMS, and energy management offerings across Europe. Competes with Alfa Therm for large enterprise and public-sector HVAC contracts but at far greater scale and breadth.
• Skanska: Major Nordic construction and project development group with in-house HVAC and building services capabilities. Competes with Alfa Therm for large commercial and infrastructure HVAC/BMS packages, particularly in CEE and the Nordics.
• VINCI Energies: Division of VINCI offering building technical services including HVAC, electrical, and automation for commercial and industrial clients. Overlaps with Alfa Therm's enterprise HVAC/BMS business as part of a much broader infrastructure portfolio.
• Carrier Global: Global HVAC equipment OEM and services provider whose brands (including York/JCI) are also Alfa Therm's equipment suppliers. Comparable in the HVAC value chain but operates at OEM scale rather than regional contractor scale.
• Veolia: Global environmental services group with significant building energy services and HVAC operations across Europe. Competes for similar enterprise, healthcare, and public-sector HVAC/BMS contracts as part of a broader environmental services portfolio.

Direct peers

• Caverion Corporation: Nordic-headquartered multi-technical services provider specializing in HVAC, building automation, and energy solutions for commercial, industrial, and public-sector clients. Directly comparable to Alfa Therm in delivering design-build-service HVAC/BMS bundles across Europe.
• Bilfinger: German industrial services and building technology group with HVAC, automation, and energy efficiency offerings for industrial and commercial customers. Comparable to Alfa Therm in industrial HVAC and BMS execution in DACH/CEE markets.
• Apleona: German facility management and building services provider with HVAC installation, energy management, and building automation capabilities. Closely mirrors Alfa Therm's turnkey HVAC/BMS model targeting hotels, healthcare, and commercial real estate.
• SPIE SA: French multi-technical services group operating across HVAC, electrical, and building automation for commercial and industrial customers in Europe. Comparable in offering integrated design, installation, and maintenance services with a similar enterprise customer focus.

Others

• STRABAG: Large European construction contractor that is both an Alfa Therm customer (office building HVAC installation) and an adjacent peer in building services. Relevant for benchmarking project delivery scale rather than as a direct HVAC competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ALFA-THERM-100083150509432
• LinkedInlinkedin.com/company/alfa-therm

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

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 Alfa Therm