SaunaNews
The Sauna Industry's Record of Note
The latest from the companies building the sauna industry. Expansions, leadership changes, factory openings, and strategic moves from global manufacturers.
Harvia's public support trail suggests a phased Xenio WiFi transition toward Fenix. The commercial tension is clear: Xenio WiFi configurations could include remote control with no extra purchase, while Fenix remote start is gated behind MyHarvia Control unless included in the package.
Through an Atlanta Hardwood Corporation joint venture, Lunawood now runs all North American sales through Lunawood LLC, holds inventory at Cleveland and Clarksville, and thermally modifies US hardwoods on US soil. The North America Collection is a real architectural platform, not a placeholder. The strategic question for 2026 isn't whether Lunawood is 'entering' North America. It's whether localization is enough to compete with Thermory's established dealer and distribution network.
Sauna360's recall of Tylö Halmstad and Kiruna Hybrid sauna rooms covers about 1,000 U.S. units sold over roughly six months in late 2024. Working backward from the CPSC notice and Tylo's own dated manuals, the affected launch cohort appears to have been in market by early Q4 2024 at the latest.
Harvia's first-quarter revenue surged 22.7% to EUR 52 million, driven by strong contributions from its ThermaSol steam acquisition and continued growth in both North American and European commercial markets.
Harvia Plc began trading on the Helsinki pre-list on 22 March 2018 at EUR 5.00 per share, after an oversubscribed offering that raised approximately EUR 45 million in gross proceeds. CapMan-backed Harvia became the only publicly traded pure-play sauna manufacturer in the world.
Harvia, three months after its Nasdaq Helsinki IPO, announced the acquisition of Almost Heaven Saunas, a Renick, West Virginia barrel sauna manufacturer. The deal, valued at approximately EUR 4 million, gives Harvia a US factory, a consumer brand, and the distribution reach to accelerate its North American strategy.
Harvia announced a majority acquisition of EOS Group, the German premium sauna heater and spa-controls manufacturer based in Driedorf. The deal, consideration undisclosed at signing, moves Harvia decisively into the commercial and ultra-premium residential segment and brings Germany into the Harvia manufacturing map.
Harvia expanded beyond sauna with the May 2021 acquisition of Kirami, a Forssa, Finland manufacturer of wood-fired and electric hot tubs. The deal closed at EUR 7 million with an earnout of up to EUR 4 million. The stock hit an all-time high on the news.
Harvia Plc announced on 23 July 2024 that it had signed an agreement to acquire 100% of ThermaSol, a Round Rock, Texas manufacturer of residential steam showers, generators, and digital controls, for USD 30.4 million. The deal strengthens Harvia's US platform and adds a steam category where Harvia has been underweight.
Harvia closed 2024 with record Q4 revenue of EUR 51.0 million, up 29.3% year-over-year, and full-year revenue of EUR 175.2 million. ThermaSol, acquired in late July 2024, contributed meaningfully to North American growth. Adjusted operating margin of 19.3% hit Harvia's long-term target band.
Harvia's half-year financial review for January-June 2025 showed 16.0% total revenue growth at comparable exchange rates, with North America growing 35.1% on ThermaSol contribution and APAC & MEA growing 35.8%. Organic growth was 2.4%. Adjusted operating margin of 20.2% held within the long-term target band.
Harvia's Q3 2025 interim report showed revenue of EUR 46.0 million, up 18.8% year-over-year (22.3% at comparable FX), with all regions contributing. North America rebounded to 24% growth, Northern Europe returned to double-digit growth, and APAC continued its multi-year run. Adjusted operating profit of EUR 8.8 million reflected 19.1% margin.
Harvia closed 2025 with full-year revenue of EUR 198.9 million, just short of the EUR 200 million threshold but up 13.5% year over year (16.0% at comparable exchange rates). Q4 revenue reached EUR 53.7 million, a fresh quarterly record. Adjusted operating margin of 19.6% held near Harvia's 20% long-term target. Proposed total dividend of EUR 0.77 per share.
Harvia's 2026 Annual General Meeting in Helsinki on 15 April approved a total dividend of EUR 0.77 per share (paid in two installments), re-elected six directors, added Martin Richter as a new board member, and authorized a share buyback of up to 934,711 shares and a share issuance of up to 1,869,423 shares, both valid until 30 June 2027.
Harvia reported FY 2022 revenue of EUR 172.4 million on 9 February 2023, down 3.7% from the EUR 179.1 million pandemic peak in 2021. Management framed the year as a reset, with North America and APAC still growing while Central Europe faced the brunt of destocking and weak consumer confidence. Adjusted operating margin held at 19.7%.
Harvia closed FY 2023 with revenue of EUR 150.5 million, down 12.7%, as the destocking cycle that began in mid-2022 persisted through most of the year. But Q4 2023 marked the inflection: revenue grew 3.4% year-over-year to EUR 39.4 million at a record 24.2% adjusted operating margin. Cash flow was exceptional, with EUR 44.6 million of operating free cash flow for the year.
Harvia's Q1 2024 interim report, published on 3 May 2024, showed revenue of EUR 42.4 million, up 2.3%, with an adjusted operating margin of 23.8%. North America and APAC continued to drive growth; Northern Europe remained weak. Finnish industrial action during the quarter pushed some shipments into Q2, muting the headline growth number relative to underlying demand.
Harvia's H1 2024 half-year review, published 2 August 2024, reported Q2 revenue of EUR 43.2 million, up 20.7% year-over-year (20.1% organic). H1 revenue of EUR 85.5 million was up 10.9%, with adjusted operating margin of 22.8%. All four regions grew in H1 for the first time in two years. Twenty-one days before the print, Harvia had announced the USD 30.4 million ThermaSol acquisition.
Harvia's Q3 2024 interim report, published 7 November 2024, showed revenue of EUR 38.7 million, up 14.0% year-over-year (7.9% organic), with the first two months of consolidated ThermaSol revenue. Adjusted operating profit of EUR 8.9 million represented a 22.9% margin. Nine-month revenue reached EUR 124.3 million.
Estonian holding company UG Investeeringud acquired a majority stake in Thermory from private equity firm Livonia Partners in a deal that closed in July 2020. The ownership change positions the world's largest thermally modified wood producer for its next growth phase.
Dundalk Leisurecraft is aggressively expanding its international dealer network, adding Australia and Brazil to its existing presence across North America and Europe.
Thermory has named Bergman Co., Ltd. of Tokyo as its exclusive distributor for sauna interior materials and exterior architectural wood products in Japan. The deal, signed in Tallinn in November 2025, positions Thermory in one of the world's most culturally significant bathing markets.
The World Sauna Forum 2026 will take place June 9-11 in Jyvaskyla, Finland, with the surrounding Sauna Region Week running June 6-14. The event, organized by Sauna from Finland, brings together manufacturers, designers, researchers, and operators for three days of talks, networking, and authentic Finnish sauna experiences.
Hukka Design, the Finnish soapstone sauna products company based in Tuupovaara, celebrates its 40th anniversary in 2026. The company exports 70% of its production, with particularly strong demand in Japan, and has released a limited commemorative edition of its iconic Loylynhenki steam fountain.
Sauna from Finland, the industry association with 250+ member companies, has named PoolBiz.eu as its exclusive B2B communication and activation partner for European markets. The alliance, effective February 1, 2026, aims to strengthen Finnish sauna brands' presence among European spa operators and installers.
Saunum has brought its Air Perfect heater to the US market. The unit combines the company's patented air mixing technology with a self-contained climate equalizer, eliminating the need for a separate external device. Prices start at $4,770.
CPSC Recall #26-040, U.S. customs bill-of-lading data, and a 2022 magazine interview with Sauna360 executives all confirm the same thing: the Cokato, Minnesota company behind Finnleo, Tylö, Helo, Kastor, and Amerec manufactures most of its sauna room products in China. Its consumer marketing says nothing about it.
Thermory USA has appointed Cristian de Rosa as CEO, promoting from within a sales leader who built the company's Northeast and Great Lakes territory. Co-founder Mark Challinor returns to CFO while retaining a board seat. For the sauna industry, it is another sign that the smart money is flowing toward North America.
Harvia hosted its first Capital Markets Day as a public company on 29 May 2024, walking investors through every layer of the business: factory capacity, regional mix, product strategy, brand architecture, and updated long-term targets. The headline: a 10% average annual revenue growth target, double the prior 5% guide, backed by a EUR 150M+ acquisition war chest and a commitment to consolidate the fragmented global sauna market.
Harvia operates five core production facilities across four continents: Muurame (Finland), Lewisburg (West Virginia), Gheorgheni (Romania), Guangzhou (China), and Driedorf (Germany). Each plant has a specialty. Together they handle over 150,000 heaters per year and more than 10,000 saunas per year for a business doing nearly EUR 200 million in annual revenue.
Announced alongside Harvia's Q3 2025 earnings on 6 November 2025, the ThermaSol Solaris is a fully off-grid solar-powered outdoor sauna that operates without a power connection. TIME Magazine named it one of the year's best inventions, a meaningful marketing win for Harvia's year-old ThermaSol acquisition and the first time any sauna product has landed on the TIME list.
ThermaSol introduced a refreshed North American sauna collection in Q3 2025: Astra, Fortis, and Ombra. The launch expands ThermaSol beyond its legacy steam shower and steam generator business into Harvia's core traditional sauna category, leveraging Harvia Group engineering and the ThermaTouch digital platform. Harvia confirmed the collection as part of its Q3 2025 results presentation on 6 November 2025.
Harvia's digital platform got its biggest upgrade in years at Q3 2025: a new Fenix full-touch controller with a 4.3-inch screen, three ready-made presets (Mild, Cozy, Hot), customizable user profiles, smart "ready-by" timer, and Wi-Fi over-the-air updates. A rebuilt MyHarvia 2 app adds personal sauna statistics, user profiles, tips, and multi-sauna control from a single interface.
The Aufguss World Championships, the global competition for the choreographed towel-waving German sauna ritual, returned in 2025 in Verona, Italy. Harvia Group sponsored the event, and the competition sauna was powered by an EOS heater. The sponsorship is part of Harvia's broader marketing push to build sauna culture beyond Finland and Germany, aligning the Harvia and EOS master brands with the growing global Aufguss community.
Harvia announced in its Q3 2025 results that Nathan Hagemeier was appointed Head of Region, North America and President of Harvia US Inc., joining the Harvia Group management team as of 1 November 2025. Jennifer Thayer had held the role since February 2024 and led the company through the ThermaSol acquisition, US integration, and record North American growth in the first three quarters of 2025.
Harvia announced on 26 September 2023 that it had acquired 100% of Phoenix El-Mec srl, an electromechanical timer switch manufacturer in Belluno, Italy. Phoenix had been Harvia's supplier since 2013. Deal terms were not disclosed. The acquisition adds vertical integration in a category that had become a supply chain bottleneck through COVID.
The Thermory Design Awards are accepting submissions for 2026, with winners featured in Dezeen. The sauna and wellness category has produced a different winner every year since 2022, from a mobile sauna on wheels to the Baltimore Ravens's performance center. If you build with Thermory wood, your project is eligible.
Estonian cabin sauna manufacturer Leil Saunas (formerly Saunasell) held a topping-out ceremony at a new production facility in Võnnu, Tartu County, on April 17, 2026. The company produces more than 250 saunas per month from a 95,200-square-foot campus and distributes to 35+ countries. Completion is expected by July 2026.
Harvia shares surged nearly 15% on the Helsinki exchange on May 7 after the Finnish sauna manufacturer reported its highest-ever quarterly revenue: EUR 58.6 million in Q1 2026, up 12.7% year-over-year. At constant exchange rates, the growth was 18.3%. Three of four regions delivered double-digit gains, with North America up 21.1% in local currencies on top of 58.8% growth a year earlier. But beneath the headline numbers sits a Muurame IT cutover that will shift EUR 3-5 million from Q2 into Q3.
Tulikivi’s Q1 2026 interim report disclosed UL certification tests on the Kevo heater collection for US launch and confirmed the Russia exit that clears a conditional Saunologia editorial partnership. The dual move reveals a coordinated credibility play across the Atlantic.
Leil Saunas has jumped from 35-plus to 45-plus distribution countries in roughly twelve months while building a second production facility. New partner Suuda Sauna anchors the Italian and Spanish channel with pricing that starts below €7,000.
Kohler acquired KLAFS in 2024 and is now selling European-built saunas in the US with turnkey nationwide installation and a proprietary KLAFS FERO heater. SaunaNews maps the corporate strategy, the dual-brand play, and the vertical integration behind the biggest brand entrance the American sauna market has seen.
The fourteen new sauna SKUs at ThermaSol.com are built in Sastamala, Finland by Kirami, the wood-fired hot-tub maker Harvia bought in May 2021 for EUR 7 million plus a EUR 4 million earnout. The cabins ship in Europe under the Kirami FinVision® nameplate. ThermaSol's American product pages say 'designed and crafted in the U.S.A.' Kirami's product pages say 'designed and manufactured in Finland.' The price band runs from $30,393 for an indoor Lumaria Medium to $107,182 for the outdoor flagship Ombra. The American premium sauna market has been culturally Finnish for years. Harvia has now closed the loop.
A concise weekly briefing on sauna launches, deals, openings, standards, and market shifts.
No spam. Unsubscribe anytime.