NIBE completed the acquisition of a 41% stake in Pacific Energy Fireplace Products.

NIBE, a heating technology company, completed the acquisition of a 41% stake in Pacific Energy Fireplace Products, a wood-fired products provider. Financial terms were not disclosed. "It is with great pleasure that we can announce today that we have been entrusted as majority shareholder of Pacific Energy and that the remaining 49% of the shares in the company can be acquired in the first half of 2023. The acquisition is of course intended to further strengthen our market position in North America. Pacific Energy has a very good reputation on the North American market, which has been built up over decades thanks to Paul Erickson’s passion for stoves and fireplaces, combined with strong and long-term customer relationships,” Gerteric Lindquist, NIBE Managing Director and CEO.