BriskHeat Corporation has been acquired by NIBE Industrier AB

The private shareholders of BriskHeat Corporation have sold the company to NIBE Industrier AB. BriskHeat will be consolidated into NIBE Element North America effective 1 January 2018. Financial details have not been disclosed.

BriskHeat is the world´s largest cloth heating jacket manufacturer, providing flexible surface heating elements, controls and accessories for a variety of end markets, mainly for the semiconductor industry, but also for the composite, petrochemical, plastics and consumer product industries. Founded in 1949, BriskHeat has about 650 employees, annual sales of US$39 million and an operating margin above 15%. BriskHeat will continue to run its operations and support its global customer base from its Columbus, Ohio and Vietnam production locations as well as from its sales and warehouse facilities in Taiwan, China and the Netherlands.

Headquartered in Markaryd, Sweden, NIBE Industrier operates as a heating technology company in Europe, North America, Australia, and Asia. The company, with approximately 12,000 employees, operates in three business areas: NIBE climate solutions, NIBE element, and NIBE stoves.

Oaklins' team in Cleveland marketed BriskHeat in a broad-based sales process to over 100 prospective buyers.