NIBE acquires German group ELMESS-Klöpper
The NIBE group has acquired 100% of the shares of the German group ELMESS-Klöpper, a leading manufacturer in the field of electric process heating.
The ELMESS-Klöpper Group comprises the operating companies Klöpper-Therm GmbH & Co. KG in Dortmund, ELMESS-Thermosystemtechnik GmbH & Co. KG in Uelzen and the management company Klöpper GmbH & Co. KG in Dortmund. The ELMESS-Klöpper Group is a European market leader in the field of electric process heating. Klöpper was founded in 1928 and Elmess in 1945. The ELMESS-Klöpper Group develops, markets and manufactures solutions for electrical process heating and surface heating. Around 60% of the company’s production is sold in Germany, of which 40% is exported via a well-developed international distribution network which will also be important for NIBE Element in the future.
The ELMESS-Klöpper Group has an annual turnover of approximately 23 million euros (approximately SEK 250 million) and 190 employees. The operating margin, which is currently around 5%, will be gradually improved thanks to the synergies produced by the integration with NIBE.
- “With this acquisition, we further complete our product portfolio in the field of industrial electric heating. This sector is considered to be experiencing strong growth due to the company’s objective to reduce CO2 emissions and reduce dependence on oil and gas,” notes Gerteric Lindquist, Managing Director and CEO of NIBE Industrier.
- “The acquisition of the ELMESS-Klöpper Group will give NIBE Element a strong local platform in Germany for other industrial products in this business area. It is an additional comfort that the local management teams continue to lead the operating companies”, adds Gerteric Lindquist.
The ELMESS-Klöpper group will be part of the NIBE Element business area and will be consolidated with NIBE from October 1, 2022. The purchase price is not specified as the acquired business will only constitute a small part of the group NIBE.
For more information: Gerteric Lindquist, CEO, and Hans Backman, CFO; +46 (0)433 27 30 00
This information has been submitted by the above contact persons for publication on October 4, 2022 at 3:00 p.m. HEC.
NIBE Group – a global group with businesses and presence around the world
The NIBE Group is a global organization contributing to a reduced carbon footprint and better use of energy. In our three business areas – Climate Solutions, Element and Stoves – we develop, manufacture and market
a wide range of eco-friendly and energy-efficient solutions for indoor climate comfort in all types of properties, as well as components and solutions for smart heating and control in industry and infrastructure.
From its beginnings in the town of Markaryd, Småland, almost 70 years ago, NIBE has grown into a global group with an average of 20,400 (18,700) employees. From the start, the company has been driven by a strong corporate culture and a passion for responsible business operations. Its success factors are long-term investments in the development of sustainable products and strategic acquisitions. Together, these factors have resulted in strong and focused growth, which generated sales of just over SEK 30 (27) billion in 2021.
NIBE has been listed as NIBE Industrier AB on the Nasdaq Nordic Large Cap list since 1997, with a secondary listing on the SIX Swiss Exchange since 2011.