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NIBE Industrier AB has acquired 80% of the shares in HT S.p.A., Susegana, Italy (“HT”). The company will become part of the NIBE Element business area.
HT has its headquarters in Susegana, Italy, and has produced highly engineered heating solutions for heating, ventilation and air conditioning, commercial food products, packaging and other industrial applications since 1978. HT’s heating product range consists of cartridge heaters, PTC heaters, strip heaters and heating systems.
HT has one production facility in Italy and two in Romania. Revenue in 2016 amounted to approx. EUR 23 million with an operating margin of 14%. The company has approx. 330 employees.
“The acquisition of HT adds another well-known brand to our European element business providing cost synergies and commercial advantages to the NIBE Group. Their market and technical position and customer base will provide yet another platform for profitable growth,” says Gerteric Lindquist, CEO of NIBE Industrier AB.
The company will continue to run its operations under the present management of Mr. Costante Dall´Anese and Mr. Veniero Peroni. Both Mr. Dall´Anese and Mr. Peroni will remain part owners of HT. NIBE has the option to eventually acquire the remaining 20% of HT S.p.A.
HT will be consolidated into the NIBE Group as from 1 May 2017.
Hello “It´s in our nature”! NIBE Energy Systems to launch new products and a new brand promise at ISH 2017.
The ISH exhibition held in Frankfurt am Main is the world’s largest showcase for energy efficient heating, air-conditioning technology and renewable energies. For the 9th time in a row, NIBE Energy Systems will be there –this year loaded with new products, the largest booth ever and a new brand statement, “It´s in our nature”. A message that salutes the power of nature.
At ISH in Frankfurt am Main, 14-18 March, NIBE Energy Systems will be presenting a broad product portfolio that encompasses heating/cooling, hot water and ventilation. NIBE Energy Systems will be showcasing a strong, wide and smart range of products that meet the expectations of today and tomorrow. Alongside the product range, NIBE Energy Systems will also be presenting the latest in inverter-controlled heat pumps, ground source heat pumps, exhaust air heat pumps and air/water heat pumps and championing the NIBE F2120 with its groundbreaking efficiency and SCOP of over 5.0. Visit our stand and find out about all our new products, such as the NIBE F1355-28, NIBE AMS 10-6,NIBE F2040-6 and NIBE F2120.
“As a premium brand in the market, quality and efficiency are guiding principles for NIBE Energy Systems. At ISH we are excited to be presenting innovative progress in heating solutions as well as a clear and important message. Energy-efficient, innovative and user-friendly products is in our nature, and we are proud to be meeting visitors with great solutions for a greener world and perfect indoor climate. In other words, maximum comfort and minimum carbon footprint,” says Kjell Ekermo, Director, NIBE Climate Solutions.
By using a climate system built on self-learning smart technology, users can easily minimise energy consumption, without having to sacrifice comfort.
At the same time, the importance of reducing carbon dioxide emissions is widely recognised. NIBE Energy Systems has incorporated this into its development and new brand message to emphasise nature’s role in human lives.
“It´s in our nature” means that we recognise the power of nature. When we develop our products, we ensure that they are equipped as much as possible to run on natural power, no matter what the outdoor climate conditions. NIBE Energy Systems converts this power into a perfect indoor climate. Naturally, with the least possible environmental impact,”says Magnus Axelsson, Market Communication Manager, NIBE Energy Systems.
At ISH 2017, 14-18 March, 2,500 exhibitors and 200,000 visitors will be teaming up to learn about the innovative future of heating and cooling products and renewable energy solutions. NIBE Energy Systems has attended ISH since 2001 and, in 2017, the stand area will have grown to 650 square metres. You can find NIBE in Hall 8.0, stand D65.
“2016 was a strong year for NIBE with a considerable increase in both sales and profit. The year was distinguished by an intense period of acquisitions, primarily in North America, stable organic growth and a successful preferential rights issue, together ensuring good future growth,” said Gerteric Lindquist, MD and Group CEO of NIBE
NIBE reports a significant increase in both sales and profit in the company’s 2016 year-end report.
“2016 was a strong year for NIBE with a considerable increase in both sales and profit. The year was distinguished by an intense period of acquisitions, primarily in North America, stable organic growth and a successful preferential rights issue, together ensuring good future growth,” said Gerteric Lindquist, MD and Group CEO of NIBE.
“The sales target of SEK 20 billion by 2020 now seems within reach – when the acquired companies are included calculated on a rolling 12-month basis, the Group’s sales amount to more than SEK 17 billion. The acquisition of Enertech Group was approved by the Swedish Competition Authority and it will be consolidated as of 1 March 2017.”
“The recent acquisitions strengthen NIBE Climate Solutions’ position and it is now one of the leading suppliers of sustainable end-to-end solutions in climate control in both Europe and North America.”
“Thanks to long-term, passionate, methodical efforts, the NIBE Element business area has now definitely exceeded a 10% operating margin, and by a good margin.”
“The NIBE Stoves business area has also passed a milestone. With the partial acquisition of Canadian company Fireplace International Ltd, it now has a solid platform in North America and Australia.”
“We have a timely product programme and business philosophy. Profitability is stable and we’re well prepared for additional acquisitions. In a world where it is difficult to make predictions, we remain cautiously optimistic about 2017.”
NIBE Industrier AB has acquired 50% of the shares in heat pump company CGC Group of Companies Inc. in Ontario, Canada, with an option to acquire the remaining 50% of the shares no later than spring 2022.
CGC was founded in 1995 and is headquartered in Mississauga, just outside Toronto, with its manufacturing facility in the nearby town of Fergus.
The company has about 80 employees, sales of approximately SEK 120 million (CAD 18 million) and an operating margin of 19%. CGC mainly targets commercial properties under the well known brands Bulldog Heat Pump, Compax and Varipak.“We now have an additional platform for heat pumps for commercial properties in North America and see good growth opportunities both in Canada and the US,” says Gerteric Lindquist, CEO of NIBE Industrier.
It’s really inspiring to continue the work of developing CGC together with the current owners and founders, Bill Browne and Bob Rutherford. Together they have more than 70 years of experience in the heat pump industry and they will continue to lead the company in strict accordance with our usual acquisition model.”CGC will be included in the NIBE Climate Solutions business area and will be consolidated from 1 February 2017.
The purchase price is not specified because the acquired business will only constitute a small part of the NIBE Group.
For more information: Benny Torstensson, NIBE Industrier AB: +46 433-73 070NIBE Industrier AB is required to disclose the information in this press release under the Market Abuse Regulation and NASDAQ Stockholm’s rules and regulations for issuers. The information was submitted by Benny Torstensson for publication on February 13, 2017 at 08.00.