NIBE completed the acquisition of a 65% stake in Miles Industries.

NIBE, an international heating technology company, completed the acquisition of a 65% stake in Miles Industries, a Canadian stove company. Financial terms were not disclosed. “It gives us great satisfaction to announce today that we have acquired 65% of the shares in Miles Industries including products sold under the Valor brand, which is one of the stove industry's oldest and most well-known in the North American premium segment. This has been achieved thanks to the Miles family's passion for constant development of new products, together with a focus on long-term customer relationships,” Gerteric Lindquist, NIBE Industrier Managing Director and CEO.