Danfoss acquires Eco Heat Pumps
The heat-pump company set up by Phil Moore (left) in 2003 has been taken over by Danfoss. He is pictured with Soren Thomsen of Danfoss and marketing director Sally Moore.
Danfoss has taken a stake in the fast-growing heat-pump market in the UK with the acquisition of Eco Heat Pumps. This is the sixth acquisition that Danfoss has made in the heat-pump sector in less than three years. Nis Storgaard, president of Danfoss’s Heating Division, says, ‘The potential is enormous, but competition is also tough. We expect an annual market growth in Europe of around 30%. It’s essential to establish ourselves in the key markets while the market is till emerging, and this is the rationale behind the agreement with Eco Heat Pumps.’ The new company is called Danfoss Heat Pumps and is based at a 650 m2 headquarters and stocking facility in Sheffield, with regional operations in Scotland and Southwest England. All Eco’s existing staff, now 30 strong, have been retained, with Ben Hodges moving to Sheffield to head the sales team. Phil Moore continues as managing director and expects staff levels to double within two years. Sally Moor becomes marketing director. The product range is also not affected, with Thermia heat pumps made at the Danfoss-owned plant in Sweden remaining the core of the company’s range. Soren Thomsen, vice president for heat-pump sales with Danfoss, stressed the synergy between the companies. ‘Environmental and social responsibility is a Danfoss core value, and heat pumps fit perfectly into our development plans, along with underfloor heating and solar technology. Eco has rapidly established a quality reputation in the UK market, and we’re confident that, as part of Danfoss, the new organisation can become market leader.’ Eco’s Phil Moore says, ‘Since we opened for business in 2003, our turnover has increased 20-fold, and Thermia heat pumps now serve hundred of projects from the south of England to the Western Isles.’
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