The Elydan Group strengthens its presence in Europe with 3 new acquisitions

Press release
Grenoble, February 27, 2025

The Elydan Group, a European ETI specialized in the distribution and management of fluids, announces the acquisition of three companies in the sanitary heating and geothermal sectors: Geo Connect Energies in France, Flextra in Finland and HeatUp in Sweden. These acquisitions mark an important step in the Elydan Group's international development strategy, reinforcing its commitment to the decarbonization of the energy sector in Europe and strengthening global synergies and connections in specific know-how.

L’Europe s’est engagée à décarboner massivement le secteur du chauffage, premier émetteur de gaz à effet de serre. Le Groupe Elydan entend jouer un rôle de premier plan en proposant des solutions innovantes et durables pour les métiers du bâtiment et des travaux publics, répondant aux défis de la transition énergétique.

Press release published in Les Echos, on 27/02/2025. By Florian Espalieu

 

« With these three new acquisitions, Elydan Group continues to implement the development plan initiated five years ago to establish itself as a leading European player in the energy sector. Our goal is to increase the Group’s international presence, particularly in the German and Nordic markets, regions known for their advanced energy transition and technological innovation. These acquisitions not only expand our product offerings but also strengthen our network to support local stakeholders in their energy efficiency projects »

- Marc-Antoine BLIN
President, Elydan Group

Three strategic acquisitions for sustainable growth

  • Geo Connect Energies (France 🇫🇷): specializing in the distribution of water and geothermal drilling equipment, Geo Connect Energies will enable the Elydan Group to extend its offering with complete solutions for the capture and distribution of geothermal energy (on vertical probes, for example). The integration of this business will enable annual sales in this segment to exceed 5 million euros.
  • Flextra (Finland 🇫🇮): specializing in geothermal systems and the distribution of hot water in buildings using pre-insulated flexible systems, Flextra will accelerate the Group's presence in Finland and the Baltic States, bringing complementary product ranges tailored to the requirements of Nordic markets. Flextra is expected to generate sales of over 3 million euros by 2024.
  • Heat Up (Sweden 🇸🇪): Specializing in complete underfloor heating systems and sanitary hot and cold water distribution, as well as pre-insulated flexible tubing systems, this fast-growing company operates from three strategic locations in Sweden. Heat Up will benefit from Elydan Group’s distribution network across Europe to accelerate its growth while integrating the Group’s geothermal solutions into its product offerings. With nearly €10 million in revenue, it will have the necessary resources to continue its expansion.

Team Retention and Integration into the International Board

The three companies will become fully integrated subsidiaries of Elydan Group while maintaining their existing management teams. Their leadership teams will join the Group’s international board to actively contribute to its development. More than 30 new employees will strengthen the Group’s workforce in the Nordic countries.

The synergies expected from these acquisitions will enable the Group, its subsidiaries, and its teams to offer a broader range of technical solutions to reseller and installer partners and to develop new connections across Europe and globally.

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