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%.
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.
This information was submitted by the contact persons above for publication on 17 November 2023 at 10.00 CET.