NIBE Industrier AB has acquired 100% of the outstanding shares of Heatron, Inc., of Leavenworth, Kansas. Effective March 1, 2016, Heatron´s operations will become part of NIBE Element. Since 1984, Heatron´s manufacturing facilities in Leavenworth, Kansas and Erie, Pennsylvania have produced highly engineered specialty heating elements, subassemblies, and LED components for a wide range of applications. Heatron offers its customers complete thermal management solutions from initial concept, design and testing to complex manufacturing based on heating technologies which include, Flexible Polyimide and Silicone Rubber, Polyester, Mica, Cartridge, and Specialty heaters as well as Thick Film heaters, Resistor circuits, and electronic assemblies. Primary end markets include, among others, Medical & Life Sciences, Semiconductors, Aviation & Aerospace, 3D & Specialty Printing, Transportation including automotive, Food Service, and Industrial Equipment.
Since 2004 Heatron has also been a leader in designing and assembling LED Lighting modules and custom assemblies for the fast growing LED Lighting market. Heatron´s Leavenworth, Kansas and Erie, Pennsylvania operations include 240 employees and report combined sales of $ 30 million, with an operating margin above 10%. The company will continue to run its operations and service its customers from its Leavenworth and Erie manufacturing facilities.
The management of the company will remain the same as before the acquisition under the continued leadership of H.B Turner as CEO. “The acquisition of Heatron, Inc. represents another critical step in our strategy to become the leading heating element supplier in North America. Heatron will provide us with dynamic, albeit stable, new end markets in addition to complementary product lines and new technologies. This, in turn, will provide us with yet another platform for profitable growth in North America.” says Gerteric Lindquist, President and CEO of NIBE Industrier AB.
The selling price was not disclosed.