Ariston Group acquires controlling stake in Mutosi

Ariston Group, an Italian thermal and water solutions provider listed on the Euronext Milan, has acquired an 83% controlling stake in the Vietnamese water purifier company Mutosi. The transaction follows the complete divestment by Mekong Capital, which had invested in Mutosi through its Mekong Enterprise Fund IV since June 2021.

Under the new ownership structure, Mutosi's existing management team will retain a 17% stake and continue to lead business operations. During its five-year partnership with Mekong Capital, Mutosi expanded its product portfolio to include various water purifier models, replacement components, and after-sales services, while also establishing a multi-channel distribution network across Vietnam.

Mekong Capital's involvement included supporting Mutosi in corporate governance, digital transformation, and production optimization. The firm also facilitated the appointment of Adrian Micu, former President and CEO of Haier U.S., as an independent board member. The acquisition by Ariston Group, which has operated in Vietnam for nearly 40 years, is expected to help Mutosi accelerate its strategic goals.