The industrial history of the Riello family began in 1922 when the “Officine Fratelli Riello“. The three brothers – Pilade, Giuseppe and Raphaelspurred on by the entrepreneurial attitude of his father Ettore, who had been a migrant in the United States – specialize in the design, production and sale of burners. The United States will become one of the great expansion markets for Riello boilers, decreeing their international success. The company grows: factories and business branches multiply, holding companies and financial companies are born, even if the heart always remains in the Bassa Veronese. Descendants of the founders are co-opted into key development roles.
The arm wrestling
Alongside the traditional domestic and industrial heating market, cooling is also developing, in some ways opposite. And the 1961 when it opens in Bevilacqua (Verona) Aermec, for the production of air conditioners, which will then take its own path. One after another the patriarchs die. And the arrival of the new millennium is a crucial moment for Riello, which at that moment is divided in half between Piladeson of Joseph, and cousin Hector, son of Pilade senior, the founder. At the end of a grueling tug-of-war between the two, the company goes entirely into the hands of Ettore (in 2017 the company was sold entirely to the American multinational Utc). And Pilade in 2001 founded the Family Company Riello Industries, divided into four main companies and with the specific intent of putting their four sons at the head of each.
The four brothers
The corporate structure designated by Pilade provides that each child receives 70 percent of his company and 10 percent of that of his brothers, in an intertwining aimed at maintaining unity and encouraging mutual aid in case of difficulty. TO Pierantonio goes the company that deals with electronics and automation, a Joseph (today president of the Verona Chamber of Commerce) the dispenser and robotics branch, a Nicola the investment and fund management branch, while Andrew becomes the CEO of “Riello Sistemi”, the jewel of the group, which deals with machines for companies, led for years by Pilade himself. Riello Sistemi is still based in Minerbs and over the years it has grown with acquisitions and commercial offices from the United States to China. “We started in 1963 and never stopped,” reads the company’s website. What stopped, Tuesday morning, was Andrea’s heart, in his office from where he had carried out the family mission.
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September 13, 2022 (change September 13, 2022 | 17:16)
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