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The cooperative from Gipuzkoa, integrated into the MONDRAGON Corporation, reinforces its position in the market after the acquisition of 45% of the Italian company’s capital. It is an electronic engineering company that was founded in 2004, which currently has a workforce of 160 people and achieved turnover of around 20 million euros in 2018. Its headquarters is in northern Italy (Verona) and it has a production plant in Romania.

A win-win partnership

With Gruppo Giordano, the cooperative from Gipuzkoa, world leader in the gas security market and a reference in the water heating and home comfort sectors on a global level, fully enters into the electronics business. The Italian company designs and manufactures innovative electronic control systems for heating, ventilation and air conditioning (HVAC) systems, residential energy management and OEM combustion control systems, among others.

The numerous synergies between both companies will stimulate the development of new and innovative product solutions that, in turn, will facilitate the attainment of new clients and markets for both companies.

Orkli’s entrance into Gruppo Giordano’s capital will pave the way to larger and more important projects for both companies in which they can offer ambitious integrated solutions to which Gruppo Giordano will contribute by providing know how in electronic systems (Lambda control, IoT, Predictive Maintenance, etc.) which is key to complementing Orkli’s position and experience in the most relevant businesses in the application of said solutions, such as water heating and heating.

According to Patxi López Urkiola, CEO of Orkli, “we followed the road map of our strategic plan, in which we stated that we would be proactive in operations and alliances that offer new opportunities for future development for our business. The acquisition of 45% of Gruppo Giordano fits perfectly into this strategy by incorporating a company into our project that provides us with added value, knowledge and advanced real applications for our activities”.

For Bruno Giordano, founder and CEO of Gruppo Giordano: “We have always believed that the construction of synergies is the appropriate response to an increasingly dynamic global market. Orkli is going to give us the opportunity to perfect our combustion techniques with the aim of improving our automatic adaptation systems for the reduction of contaminant emissions in home heating systems, but it will also give us the ability to significantly accelerate investments in innovation, which are the real engine of our group. I am proud to say that this alliance will allow Gruppo Giordano penetration the reference markets in a significant way and, above all, in the markets in which we are not yet present.”

Orkli global

Thanks to the partnerships and acquisitions policy developed by Orkli during the last few years (acquisition of 40% of the Italian company Valmex in 2015, alliances and collaborations with universities such as Bayreuth, Mondragón or the Fraunhofer Institute), technological centres (such as Ikerlan, Tecnalia or Centro Stirling) and with start ups (such as Embeblue and Iddo), the company's offering is more complete and almost comprehensive, which opens up many more business opportunities and consolidates the cooperative in the world as a more global actor.