NIBE Industrier AB has reached an agreement to acquire the operations of Marathon Heater, Inc. of Del Rio, Texas, USA. The company’s operations will become part of the NIBE Element North American business group.
Marathon has 130 employees and reports annual sales of approximately USD 9 million (SEK 78 million) with an operating margin above 10%.
Marathon Heater has produced high quality specialty heating elements for advanced industries since 1996. Marathon’s commitment to engineering support and customer service has earned the company a leading position with the most important companies in the plastics and medical equipment industries in North America.
The product range consists of cartridge heaters, band heaters, silicon heaters and thermocouples.
The company will continue to run its operations and provide service for its customers from its Del Rio, Texas manufacturing facility under the name Backer Marathon, Inc.
“The acquisition of Marathon is another critical step in executing our strategy to become the leading heating element supplier in North America. Their market position and complementary product line will provide yet another platform for profitable growth,” says Gerteric Lindquist, President and CEO of NIBE Industrier AB.
The company will be consolidated into the NIBE organization as of April 2015.