Press release

NIBE acquires Danish LS Control A/S

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%.


  • ”Through the acquisition, we are further supplementing our product portfolio within control and regulation. This area of technology is considered to be of great importance in terms of increasing the Group’s added value and being able to offer our customers unique, world-class products,” says Gerteric Lindquist, Managing Director and CEO of NIBE Industrier.
  • ”The acquisition of LS Control also means that NIBE Element will have additional opportunities to offer complete system solutions to their customers. The fact that the local management will continue to lead LS Control also provides extra reassurance,” Gerteric Lindquist continues.
  • ”LS Control’s long-term position as an important and qualified supplier to the market is strengthened through the acquisition,” says LS Control’s CEO, Per Nielsen.

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.