The Viessman Group, a company based in Germany, has acquired a 40% of ThermoWise. ThermoWise is a South Africa supplier of innovative energy saving solutions, specializing in air to water heat pumps and mechanical turnkey solutions. The company was established in 2008 and typically works on hotels, hospitals, malls and housing complexes. The controlling shareholders (Arnold Retief and Sitha Rajkoomar) will retain their majority control and will retain operational management.
The Viessmann Group is one of the leading international manufacturers of heating, industrial, and refrigeration systems. The family business was established in 1917, currently has 12,000 employees and an annual turnover of €2.5 billion. The Viessmann Group has 23 production companies in 12 countries, distribution companies and representative offices in 74 countries and 120 sales offices throughout the world.