Harvia, a leading global provider of sauna solutions, has recently announced the acquisition of ThermaSol, a prominent U.S.-based manufacturer of high-end steam showers and steam rooms. This strategic move is set to bolster Harvia's position in the U.S. market, particularly within the steam segment, complementing its already extensive sauna offerings.

Harvia completes and extends its product offering

ThermaSol, a family-owned business established in 1958, has long been a key player in the U.S. steam solutions market offering steam generators, steam and shower heads, digital control units, smart shower components, and accessories. In addition, ThermaSolis is distributor of indoor and outdoor saunas and heaters.

The acquisition aligns with Harvia's growth strategy, allowing the company to leverage ThermaSol's expertise and well-established reputation in the steam segment. This will enable Harvia to deliver a comprehensive range of sauna and steam experiences to its customers. It will enable Harvia to complement Harvia Group's sauna offering in the attractive steam segment, supporting the company's growth in the United States and its leading position as a global sauna solutions provider.

The acquisition is expected to create significant synergies, particularly in the areas of sourcing, logistics, and marketing. It also provides Harvia with a valuable hub near Austin, Texas, which will enhance its operations in the North American market. By incorporating ThermaSol's advanced digital offerings, Harvia can expand its product range and strengthen its competitive edge in the global market.

"Harvia is very happy to announce the acquisition of ThermaSol. ThermaSol's high-end residential steam offering is an excellent fit to our full sauna experience portfolio. The acquisition supports our strategic focus areas of delivering the full sauna experience, winning in strategically important markets, and taking an active consolidator role in the industry through M&A. In addition, the warm, family company culture combined with the ambition to provide leading solutions to the market, resonate well with our own," says Matias Järnefelt, CEO of Harvia Plc.

As part of her role as Harvia's Head of Region, North America, and President of Harvia US Inc., Jennifer Thayer will also become the CEO of ThermaSol. The seller in the transaction, ThermaSol's current CEO Mitch Altman will work for Harvia in a Strategic Adviser role and support Harvia in transitioning ThermaSol's business and managing customer relations.

The transaction underscores Harvia's commitment to being a market leader in the global sauna industry, and it will likely have a lasting impact on the company's growth and innovation in the wellness sector.