NIBE acquires Danish LS Control A/S
17 November 2023 - 8:00PM
NIBE acquires Danish LS Control A/S
NIBE Industrier AB has acquired 70% of the
shares in Danish LS Control A/S. The remaining 30% of the shares
are to be acquired in two stages by 2028 at the latest.
LS Control develops, manufactures and sells
electronics for control and regulation to customers in the
ventilation and heat pump industry. The company also has customers
in medical technology, laboratory equipment and professional
catering. The company’s range consists partly of customer-unique
products and partly of a standard assortment.
The company, which was founded in 1969 and
conducts its operations in southern Zealand, employs 55 people
directly and a further 30 people via partners. LS Control has
annual sales of approximately DKK 100 million (approximately SEK
150 million) and an operating margin of over 15%.
- ”Through the acquisition, we are further supplementing
our product portfolio within control and regulation. This area of
technology is considered to be of great importance in terms of
increasing the Group’s added value and being able to offer our
customers unique, world-class products,” says Gerteric Lindquist,
Managing Director and CEO of NIBE Industrier.
- ”The acquisition of LS Control also means that NIBE
Element will have additional opportunities to offer complete system
solutions to their customers. The fact that the local management
will continue to lead LS Control also provides extra reassurance,”
Gerteric Lindquist continues.
- ”LS Control’s long-term position as an important and
qualified supplier to the market is strengthened through the
acquisition,” says LS Control’s CEO, Per Nielsen.
LS Control will become part of the NIBE Element
business area and will be consolidated with NIBE from 1 December.
The purchase price is not specified because the acquired business
will only constitute a small part of the NIBE Group.
For more information: Gerteric Lindquist,
CEO, and Hans Backman, CFO: +46 (0)433 27 30 00
NIBE Group – an international Group with companies
and a presence worldwideThe NIBE Group is an international Group
that contributes to a reduced carbon footprint and better
utilization of energy. In our three business areas – Climate
Solutions, Element and Stoves – we develop, manufacture and market
a wide range of environmentally friendly, energy-efficient
solutions for indoor climate comfort in all types of properties,
plus components and solutions for intelligent heating and control
in industry and infrastructure. Since its beginnings in the
town of Markaryd in the Swedish province of Småland 70 years ago,
NIBE has grown into an international company with an average of
21,300 (20,400) employees and an international presence. From the
very start, the company has been driven by a strong culture of
entrepreneurship and a passion for corporate responsibility. Its
success factors are long-term investments in sustainable product
development and strategic acquisitions. Combined, these factors
have brought about strong, targeted growth, which generated sales
of just over SEK 40 (30) billion in 2022. NIBE has been listed
under the name NIBE Industrier AB on the Nasdaq Nordic Large Cap
list since 1997, with a secondary listing on the SIX Swiss Exchange
since 2011.
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