In July 1999, CVC Funds acquired ACV. ACV manufactures domestic and semi-industrial floor-standing central heating and hot water generators. The company has a strong market position in Belgium and, over recent years, has expanded its export market to over 40 countries.

ACV has designed, manufactured and distributed engineering solutions for generating hot water and residential and tertiary heating applications since 1922. With a range today of more than 600 products, ACV has the solution for every heating and hot water application. Thanks to its exclusive ‘Tank-in-Tank’ technology, ACV offers solutions that are reliable, economical and environmentally friendly. The company is represented the world over by its 15 subsidiaries and a large network of specialized distributors.

In August 2008, CVC reached an agreement to sell its residual stake to the majority shareholder.

Year of investment



Boilers and water heaters