NIBE Industrier AB has acquired 77.5% of the shares in Ceramicx Ireland Limited, with the remaining shares to be acquired by 2025.
Ceramicx is a leading manufacturer of components and systems for infrared heating. The company was founded 1992 and is based in West Cork in Ireland. Ceramicx has a turnover of EUR 10 million and an operating margin above 10%. More than 90% of sales are export sales. The company employs some 100 people.
– “With this acquisition, we are further complementing our product portfolio within industrial electrical heating. This sector is assessed to be undergoing strong growth due to society’s aim of reducing CO2 emissions and reducing dependence on oil and gas,” says Gerteric Lindquist, Managing Director and CEO of NIBE Industrier.
– “It is an extra comfort that the local management team under the leadership of existing CEO Frank Wilson will continue to lead the company,” Gerteric Lindquist adds.
Ceramicx will become part of the NIBE Element business area and consolidated with NIBE from 1 August 2023. 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
This information was submitted by the contact persons above for publication on 20 July 2023 at 16.15 CET.