Long-term thinking and continuity

Since our beginnings nearly 70 years ago, we have created a global Group and a presence worldwide as well as a solid platform for further expansion with profitability. Clear shared values and long-term ownership are behind the Group's continuity and stability. 

Committed innovative entrepreneurs

Christian Backer

Based on Christian Backer’s patent for tubular elements, Nils Bernerup establishes Backer Elektro-Värme AB in Sösdala, Sweden, to manufacture what came to be called the ‘Backer element’.

Nils Bernerup

Nils Bernerup establishes NIBE-Verken AB in Markaryd through the acquisition of Ebe-Verken, with its 3 employees. The initial letters of his first name and surname form the company name, NIBE.

Sven Christensson

Sven Christensson, is appointed MD of Backer-Elektro Värme AB in 1956 and over his 25 years with the company it grows into one of Europe’s leading manufacturers of tubular elements.

Rune Dahlberg

Rune Dahlberg is appointed MD of NIBE-Verken AB. With a strong focus on quality and rational production, he successfully runs the company up to his retirement in 1987.

Organic growth forms the basis for expansion

Tubular elements begin to be manufactured

1949 sees the start of manufacture of a new heating component that could easily be applied in both the home and industry. With a resistance wire in the centre of an empty conduit filled with magnesium oxide, the tubular element is created.

Hot water boiler first out to the farm

In 1952, the manufacture of NIBE’s water heaters starts, in the same year as the Act requiring farmers to have hot water in milking parlours enters into force.

Early contract production of Handöl

In 1965, NIBE sub-contracts to manufacture stoves under the Handöl trademark. Handöl’s entire operations were subsequently acquired.

First heat pump from NIBE

In 1981, the very first heat pump from NIBE, Fighter Twin, is premièred at the heating and plumbing show, and manufacture of heat pumps begins in Markaryd.

NIBE Industrier AB is formed in 1989 and is listed on the stock exchange in 1997

NIBE Industrier AB is formed

The Bernerup family decides to dispose of the two companies Backer Elektro-Värme AB and NIBE-Verken AB. A number of employees and two external investors form NIBE Industrier AB and acquire the companies. Gerteric Lindquist is appointed MD and Group CEO.


To allow for further expansion and to broaden ownership, NIBE Industrier AB holds a new share issue and the company is listed on the Stockholm stock exchange on 16 June 1997.

Market-oriented expansion through acquisitions

Acquisitions in the Nordic region

The era of acquisitions begins on the Nordic markets. Around 30 acquisitions in all three business areas are completed in 1997-2010.

 Some benefits of the acquisitions

  • New technologies
  • New products
  • New markets
  • New production capacity

Acquisitions in the rest of Europe

Around 15 acquisitions were completed on the European market in the period up to 2011. Another seven European acquisitions and seven smaller additional acquisitions are completed in the period 2012-2016.

Some benefits of the acquisitions

  • A major European heat pump operator
  • The market leader for stoves in Europe

Acquisitions in North America

Eleven strategically important acquisitions were completed in North America in all three business areas in 2011-2016.

Some benefits of the acquisitions

  • New technologies
  • New products
  • New markets
  • New production capacity

Acquisitions 2017-

There continued to be many acquisition discussions and a high rate of acquisition.

  • Our industrial element range expanded and we further strengthened our European presence in the industrial element sector
  • We took further steps towards being a leading turnkey supplier of sustainable climate control solutions for both single-family homes and commercial properties