NIBE Industrier — M&A Activity 2016

Nov 29, 2016

Decision from Swedish Competition Authority regarding NIBE's acquisition of majority in British-owned Enertech Group still pending

In a press release dated 28 September 2016 NIBE Industrier AB announced an agreement to acquire the majority of British Enertech Group, which includes six operations in six European countries. It further indicated that the transaction requires the approval of anti-trust authorities in Sweden and Germany and that the decision could be expected during the fourth quarter.

Approval has been obtained from the anti-trust authority in Germany, while the Swedish anti-trust authority has announced its decision to conduct a special investigation to further examine the acquisition.

The Swedish Competition Authority states in its decision that there is a need for further investigation and analysis so that the Competition Authority can take a final position.

For more information

Benny Torstensson CIO NIBE Industrier: +46 433-73 070

The information in this press release is such that NIBE Industrier AB is required to disclose under the Market Abuse Regulation and NASDAQ Stockholm's rules and regulations for issuers. This information was made available for publication by Benny Torstensson at 08:15 (C.E.T.) on 29 November 2016.

About Enertech Group

Enertech Group Ltd. is a British private holding company that owns a group of companies that develop, manufacture and market leading heating technology products worldwide. The acquired group of companies consists of CTC Ferro Fil AS (Norway), CTC Giersch AG (Switzerland), Enertech AB (Sweden), Enertech Belgium SPRL (Belgium), Enertech Limited (UK) and the operations of Enertech GmbH (Germany). Besides CTC, other well-known brands are Enertech, Bentone, Giersch, Nu-Way, Electro-Oil, Parca, Osby-Parca and CTC Ferrofil. Enertech Group Ltd. will retain its subsidiaries in Belgium (Saint Roch), Australia and New Zealand.

About NIBE Industrier

NIBE – a global Group with operations and sales on five continents.

NIBE is a global group with solutions for indoor climate and comfort as well as components and solutions for measurement, control and electrical heating that help make the world more sustainable. NIBE has more than 60 years of experience in manufacturing products for both household and commercial use. From its beginnings in the Småland city of Markaryd, NIBE has grown and now has operations and sales on five continents.

NIBE has developed a culture of entrepreneurship and a passion for running businesses. Investments in sustainable product development and acquisitions have helped the NIBE Group expand significantly, resulting in sales of over SEK 13 billion in 2015. Operations are conducted within three business areas – NIBE Climate Solutions, NIBE Element and NIBE Stoves – with more than 11,000 employees in Europe, North America, Asia and Australia.

NIBE has been listed under the name NIBE Industrier on the NASDAQ OMX Stockholm Exchange, Large Cap list, since 1997, with a secondary listing on the SIX Swiss Exchange since 2011.