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NIBE Industrier signed an agreement to acquire 50% of Go Geothermal Ltd, a UK heat pump distributor based in Newton Aycliffe, with the remaining shares to follow within five years. The purchase price was not disclosed.
NIBE Industrier signed an agreement to acquire 100% of German heat pump manufacturer WATERKOTTE GmbH, which operates in Herne and Georgsmarienhütte in Germany. The purchase price was not disclosed, and consolidation is expected from 1 April 2020. The announcement was made on 10 March 2020.
NIBE Industrier agreed to acquire 51% of Nathan Holding B.V., a Benelux distributor of heating and cooling solutions based in Zevenaar, with the remaining shares to follow in two stages. Annual sales are about EUR 50 million; the price was not disclosed.
NIBE Industrier AB signed an agreement to acquire 51% of the EMIN Group, a 340-employee maker of fluid coupling systems with operations in Turkey and Serbia, with a call option on a further 29% in 2025. Completion is expected in eight weeks, subject to Turkish competition approval.
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.
