# NIBE acquires 50% of Canadian heat pump maker CGC Group

NIBE Industrier acquired 50% of the shares in heat pump company CGC Group of Companies, which has a manufacturing facility in Fergus, Ontario, with an option to buy the rest by spring 2022. The purchase price was not disclosed.

- Type: Acquisition
- Announced: 2017-02-13
- Where: Fergus, Ontario, Canada
- Status: completed
- Products: heat pumps
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [NIBE Industrier](https://endata.com/companies/929.md) (acquirer)
- [CGC Group of Companies](https://endata.com/companies/930.md) (target)

## Sources

- [nibegroup.com](https://www.nibegroup.com/investors/pm-news-acquisitions-other/2017---news-acquisitions-other/2017-02-13-nibe-acquires-canadian-heat-pump-company-cgc-group-of-companies-inc.), 2017-02-13: "NIBE Industrier AB has acquired 50% of the shares in heat pump company CGC Group of Companies Inc. in Ontario, Canada."

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