Alfa Laval, Richmond, Va., signed an agreement to sell its heat exchanger systems business, currently part of the greenhouse division, to the NIBE Group, Sweden.
The heat exchanger systems business has been a part of the greenhouse division since 2016. It was moved there, along with a few other selected product groups, to improve its performance.
“This business has indeed improved throughout last year,” says Tom Erixon, president and CEO of the Alfa Laval Group. ”However, we concluded that it would have even better opportunities to develop under the ownership of the NIBE Group. NIBE Group is a solid player with a dedicated focus on the HVAC industry, and the heat exchanger systems will be a valuable complement to their current portfolio.”
“With the acquisition, NIBE Climate Solutions gets a high-quality product complement with good business opportunities within the district heating market, while providing positive synergies with NIBE's heat pumps,” says Gerteric Lindquist, chief executive officer of NIBE Industrier. "It is also valuable and positive that the management and employees in the heating and cooling business will continue their employment in the NIBE Group."
The agreement to divest the heat exchanger systems business to the NIBE Group will impact about 60 employees based in Sweden, France, Russia, Czech Rep, Finland, UK and Slovakia.