# NIBE acquires 60% stake in Swedish boiler maker VEÅ

NIBE Industrier AB has agreed to acquire 60% of VEÅ AB, a Swedish designer and manufacturer of steam and hot water boilers for industrial use, with the remaining stake to be acquired within four years. The acquisition strengthens NIBE's position in the Swedish commercial steam boiler market.

- Type: Acquisition
- Announced: 2020-05-07
- Where: Sävsjö, Sweden
- Status: announced
- Products: steam and hot water boilers, pressure vessels
- Sectors: [Pumps and Valves](https://endata.com/sectors/pumps-valves.md)

## Companies

- [NIBE Industrier](https://endata.com/companies/929.md) (acquirer)
- [VEÅ](https://endata.com/companies/47069.md) (target)

## Sources

- [nibegroup.com](https://www.nibegroup.com/sv/investerare/pm-news-acquisitions-other/2020---news-acquisitions-other/2020-05-07-nibe-forvarvar-svenska-vea), 2020-05-07: "Genom förvärvet stärker vi vår position på den svenska marknaden för kommersiella ångpannor avsedda för framförallt processindustrin."

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