NIBE Industrier AB has acquired 100% of the shares in the English heating cable company Heat Trace Holdings Ltd.
Heat Trace, founded in 1974, develops, manufactures and markets electric heating cables for use in many industries. The business has 66 employees with operations in Helsby, east of
Heat Trace has annual sales of approximately GBP 10 million (approximately SEK 117 million). The operating margin, which is currently around zero, will gradually be improved through the synergy effects of integration with NIBE.
“This acquisition further complements our product portfolio in components and solutions for intelligent heating,” said Gerteric Lindquist, CEO of
Heat Trace will be included in the NIBE Element business area and will be consolidated into NIBE from
For more information: Gerteric Lindquist, CEO and
This information was submitted by the contact persons above for publication on 7 May 2021 at 11.30 CET.
From its beginnings in the Småland town of Markaryd nearly 70 years ago, NIBE has grown into an international company with 18,700 (17,000) employees and a global presence. From the very start, the company has been driven by a strong culture of entrepreneurship and a passion for corporate responsibility. Its success factors are long-term investments in sustainable product development and strategic acquisitions. Combined, these factors have brought about strong, targeted growth, which generated sales of just over SEK 27 (25) billion in 2020.
NIBE has been listed under the name
Attachment
- PM- HeatTrace-GB
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