Dagens industri: Nibe Bids for Atlantic Amidst Market Doubts

According to a report in French business magazine Challenges, Swedish heat pump manufacturer Nibe Industrier is bidding for its French competitor, Atlantic. The report names Nibe as one of three potential buyers for Atlantic, a company with a turnover approximately three-quarters the size of Nibe's. The potential acquisition is estimated at 40 billion kronor. Nibe declined to comment on the specific reports. However, the company stated to Dagens industri that it maintains an "acquisition-intensive" strategy and is "always looking at potential acquisitions." Nibe has acquired 150 companies over the past 30 years and identifies France as a key market. Carl Ragnerstam, a Nordea analyst covering Nibe, called the potential acquisition a "fantastic door opener." Analysts, however, have expressed reservations regarding the acquisition, citing concerns about Nibe's current stock price and profitability, which could present financing challenges for a transaction of this scale. These concerns were shared in commentary provided to Dagens industri. The broader heat pump market also faces headwinds. Bosch, Nibe's German competitor, recently suspended plans for a new heat pump factory in Poland, an investment exceeding 3 billion kronor. Bosch cited slower-than-anticipated growth as the primary reason for the decision, according to statements made to Polish media.