Subscribe to the daily news Sign in
En

Danfoss Värmepumpar AB (Thermia) joins the Stiebel Eltron Group

<div>
<div class="container-fluid ">
<div class="row clearfix">
<div class="column col-md-4 col-sm-5">
<div>
<div class="grid-danf-fe-rte">

The Stiebel Eltron Group and Danfoss A/S have finalized an agreement for Stiebel Eltron to acquire Thermia, which includes Danfoss Värmepumpar AB in Sweden and activities in Finland and Norway.

<img class="alignnone size-full wp-image-12007" src="https://refindustry.com/wp-content/uploads/2018/04/danfoss-1.jpg" alt="" width="468" height="312" />

Danfoss Värmepumpar AB, trading under the brand name Thermia, is a leading player in the heat pump market in the Nordics with an annual turnover of approx. 650 Million SEK. Based in Arvika, Sweden, Danfoss Värmepumpar AB employs 210 employees in Sweden, Finland and Norway.

</div>
</div>
</div>
</div>
</div>
</div>
<div>
<div class="container-fluid ">
<div class="row clearfix">
<div class="column col-md-8 col-sm-10 col-md-offset-2 col-sm-offset-1">
<div>
<div class="grid-danf-fe-rte">

“Thermia´s strong position in the Nordic countries and its modern product portfolio are perfect additions to the Stiebel Eltron Group’s focus on heating and cooling with renewable energy. The strong product offering of Thermia will help the Stiebel Eltron Group develop its business in other markets dominated by ground/water heat pumps”, says Dr. Nicholas Matten, CSO (Chief Sales Officer) of Stiebel Eltron.

Dr. Kai Schiefelbein, COO (Chief Operational Officer) of the Stiebel Eltron Group adds: “As there is very little overlap in the product portfolios and in the markets where the companies are strong, the combination of the Thermia and Stiebel Eltron brands will help secure our position in an increasingly competitive European heating market. There is a big opportunity to create synergies by developing common technical platforms and through purchasing activities.”

The Danfoss Group will continue to supply heat pump technology to Stiebel Eltron and continue to be a distributor of Danfoss branded heat pumps in a few selected markets including Denmark.

Kim Fausing, Danfoss President & CEO, says: “With this strategic divestment, we have taken the next step in ensuring a clear focus on the core of our heat pump activities, which in the future concentrates on providing advanced components and technologies for heat pumps. The heat pump application and activities around developing and providing key technologies to the global heat pump industry remains a very important priority and growth opportunity for Danfoss.”

Magnus Glavmo, Vice President Operations, Danfoss Värmepumpar AB, says: “We are excited to join the Stiebel Eltron Group, as we see Danfoss Värmepumpar AB contributing substantially to the Stiebel Eltron Group’s future.”

“This is a perfect match between two strong players on the heat pumps market and together we will be able to offer our customers an even broader product portfolio based on our combined strengths,” adds Lars Gyllander, Vice President Sales & Marketing, Danfoss Värmepumpar AB.

Additional facts about the acquisition:
<ul>
    <li>Development and manufacturing of heat pumps for the combined business will continue in both Holzminden, Germany, and Arvika, Sweden.</li>
    <li>Thermia will remain the active brand for the Stiebel Eltron Group in the Nordic region within the existing distribution structures.</li>
    <li>The parties have agreed not to disclose the transaction price</li>
    <li>As part of the Stiebel Eltron Group, the Thermia operations will continue to be run by the current management team lead by Magnus Glavmo, Vice President Operations and Lars Gyllander, Vice President Sales & Marketing.</li>
</ul>
</div>
</div>
</div>
</div>
</div>
</div>
Related tags: Danfoss, heat pump
Share

Related news

Beijer Ref has introduced a CO2-based ice builder developed in New ...
Beijer Ref has introduced a CO2-based ice builder designed and developed in New Zealand, which the company says is the first of its kind in the region. The system is intended for dairy industry app...
03 Jul 2025
Embraco expands into HVAC market with scroll compressor acquisition
Nidec Global Appliance has announced the expansion of its Embraco brand into the heating and air conditioning (HVAC) market through the acquisition of scroll compressor manufacturer Xecom. Th...
yesterday
EU expands state aid rules to support heat pump manufacturing
The EU has recently revised its rules on which sectors are eligible for government funding and how to implement the Clean Industrial Deal. The European Commission has updated its State Aid Fra
04 Jul 2025
LFB Group Launches Redge Brand for EMEA HVAC Market
LFB Group, the company behind the Friga-Bohn refrigeration brand, has announced the launch of Redge, a new brand name for its commercial HVAC operations in Europe, the Middle East, and Africa (EMEA...
03 Jul 2025
Secop marks 15-year milestone with global anniversary tour
Secop is celebrating 15 years under its current brand, highlighting a broader legacy of over 65 years in compressor technology and refrigeration solutions. The company announced a global tour acros...
04 Jul 2025
GEA marks 75 years of refrigeration technology in Germany
GEA Refrigeration Germany has celebrated its 75th anniversary at its Berlin site, bringing together around 1,000 guests, including employees from its locations in Berlin, Schkopau near Halle, a...
today