NIBE Industrier to acquire Climate for life from Parcom Capital for €640m.

NIBE Industrier, a global group that develops and manufactures intelligent, energy efficient indoor comfort solutions for all types of properties, agreed to acquire Climate for life, a developer, producer and seller of energy-efficient solutions in the areas of heating and cooling, hot water, ventilation and control technology, from Parcom Capital, a private equity firm, for €640m. "CFL and NIBE are both household names in climate solutions with a strong heritage, similar business values and culture, as well as a long-term commitment to the industry. The two businesses have an overarching geographical footprint and will together be one of the larger climate-solutions providers in Europe. This allows the combined companies to better serve a larger customer base with innovative, sustainable and affordable quality products," Gerteric Lindquist, NIBE Industrier CEO.