NIBE Industrier AB (publ) has acquired 70% of the shares in Selmo S.r.l, with the remaining shares to be acquired by 2028.
Selmo is a leading manufacturer of thermostats and electronic control devices for electrical heating. The company was founded 1988 and is based in Rubano in the vicinity of Padua in northern Italy. Selmo has a turnover of EUR 18 million and an operating margin well above 10%. The company employs 20 people.
-"This acquisition of Selmo strengthens our intention to deliver components and systems for electrical heating including thermostats and electronic control devices." says Gerteric Lindquist, CEO of NIBE Industrier.
-"It is an extra comfort that the local Management Team under the leadership of the founders Alessandro Fantin and Giulio Calore will continue to lead the company", Gerteric Lindquist concludes.
Selmo will become part of business area NIBE Element and consolidated with NIBE Industrier as from 1 November 2025.
The purchase price is not specified because the acquired business will only constitute a small part of the NIBE Group.
www.Selmo.com
For more information, please contact:
Gerteric Lindquist, CEO NIBE Industrier AB or
Hans Backman, CFO NIBE Industrier AB
Telephone +46 (0)433 27 30 00
About Us
NIBE Group
- an international Group with companies and a presence worldwide
The NIBE Group is an international company that contributes to a reduced carbon footprint and better utilization of energy. In our three business areas - Climate Solutions, Element and Stoves - we develop, manufacture and market a wide range of environmentally friendly, energy-efficient solutions for indoor climate comfort in all types of properties, plus components and solutions for intelligent heating and control in industry and infrastructure.
Since its beginnings in the town of Markaryd in the Swedish province of Småland more than 70 years ago, NIBE has grown into an international company with an average of 20,600 (22,500) employees and an international presence. From the very start, the company has been driven by a strong culture of entrepreneurship and a passion for corporate responsibility. Its success factors are long-term investments in sustainable product development and strategic acquisitions. Combined, these factors have brought about strong, targeted growth, which generated sales of just under SEK 40 (47) billion in 2024.
NIBE has been listed under the name NIBE Industrier AB on the Nasdaq Nordic Large Cap list since 1997, with a secondary listing on the SIX Swiss Exchange since 2011.