# 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.

- Type: Acquisition
- Announced: 2016-12-01
- Where: Danvers, Massachusetts, United States
- Jobs: 115
- Status: completed
- Products: cartridge heaters, band heaters, strip heaters, ceramic heaters, Superwatt high density cartridge heater
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md), [Medical Devices](https://endata.com/sectors/medical-devices.md), [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [NIBE Industrier](https://endata.com/companies/929.md) (acquirer)
- [Hotwatt](https://endata.com/companies/20288.md) (target)

## Sources

- [nibegroup.com](https://www.nibegroup.com/investors/pm-news-acquisitions-other/2016---news-acquisitions-other/2016-12-01-nibe-acquires-the-operations-of-hotwatt-inc.-in-usa), 2016-12-01: "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."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.