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NIBE acquires 70% of the shares in Hemi Heating AB based in Södertälje, Sweden.

Published: 2018-02-19 14.51

NIBE has reached an agreement to acquire 70% of the outstanding shares in Hemi Heating AB. NIBE has an option to acquire the remaining 30% of Hemi Heating´s outstanding shares at a later time.

Hemi Heating produces heating jackets, heating tents, heating cables, heater fans and several different temperature control options. Hemi Heating have a strong foothold in the science and research segment and have delivered to CERN, MAX4 and a number of universities. As most producers of heating jackets Hemi Heating also produces products for the semiconductor industry.

 

The company was founded in 1991, has 36 employees, a turnover of about MSEK 20 and a profit level around 15%. Hemi Heating has an 80% ownership in a Chinese company and 16 of the 36 employees are employed in the Chinese company. The local management owns the remaining 20% of the Chinese subsidiary.

Production takes place in Södertälje, Sweden and in Guiyang, China.

Hemi Heating will become part of NIBE Element and will legally be a subsidiary to Backer BHV. The current management/owners Henry and Kerstin Kvael will continue to run the company.

 

www.hemiheating.se

 

Hemi Heating

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