SWEDEN/GERMANY: Swedish heat pump manufacturer Nibe has agreed to acquire 100% of the shares in the German heat pump manufacturer Waterkotte GmbH.
Founded in 1976, Waterkotte is a leading manufacturer of advanced heat pump systems and integrated sustainable energy solutions for both domestic and commercial applications. The business has annual sales of approximately €26m.
Operations are in Herne near Dortmund in Germany and Georgsmarienhütte near Osnabrück. Waterkotte also has sales offices in Austria, Switzerland and Italy.
“Waterkotte furthers strengthens our market position in the European heat pump market, especially in Germany, where the market is now growing following the recent legislative changes aimed at stimulating the use of more sustainable air conditioning solutions,” commented Nibe CEO Gerteric Lindquist.
“Waterkotte will also give NIBE access to expertise for handling larger projects as well as heat pumps with higher capacity and we’re very pleased that the entire management team will continue to run the business.”