NIBE acquires Hotwatt Inc. in USA

NIBE Industrier AB acquired the operations of Hotwatt, Inc., a Massachusetts-based manufacturer of electric heating solutions for HVAC, medical device, and industrial markets. Hotwatt has 115 employees and sales of $9 million.

“The acquisition of Hotwatt adds another well-known brand to our North American Element business providing cost synergies and commercial advantages to the NIBE Group.”nibegroup.com

• 1 source
• nibegroup.comPressrelease NIBE acquires Hotwatt - NIBE Group EnergyefficencyDec 1, 2016

Summarized from public sources; check the original articles before acting on it.