Schulthess Maschinen AG

The transaction is fully in line with the process started in 2019, to gradually transfer the company as specialist in washing technology, equipment, and system solutions by the former majority shareholder NIBE. In 2019, the NIBE Group sold 100% of the shares in Schulthess to the new Swiss parent company HC Holding Eta AG; at the same time, it became the majority shareholder in this company with a 51% stake. The remaining 49% of the shares in the parent company were acquired by Helvetica Capital AG and its Swiss entrepreneur investors as well as by the management of Schulthess.

Schulthess has been a subsidiary of the NIBE Group since the acquisition of the listed Swiss Schulthess Group AG in April 2011, within which Alpha Innotec GmbH, the German market leading heat pump company, constituted the largest part and thus the reason for the acquisition.

• „The divestment is entirely in line with what we made clear at the time of acquisition; that although neither washing machines nor tumble dryers are part of our core activities, we would continue to act as a responsible long-term owner until we could find another ownership structure with similar business principles to our own, to ensure the company’s long-term development”, says Gerteric Lindquist, CEO of the NIBE Group.
• „We have now worked with Helvetica Capital and their Swiss entrepreneurial investors for three years and feel that the foundation of the future new solid ownership structure is in place. In addition, the company has highly professional and long-standing management, led by the company’s CEO Thomas Marder and CFO Martin Keller, which is another crucial factor for the company’s continued development. As minority shareholder we will follow the company’s development with great interest but intend to divest our remaining holding in the coming three-to-four-year period”, continues Gerteric Lindquist.
• „We are really pleased to continue the development of Schulthess as an independent company together with NIBE as a long-term oriented minority-shareholder and the highly qualified management team. Through the new ownership structure, the company is back in Swiss majority ownership and at the same time has the agility to continue its successful growth strategy. Together with our network of industry and technology experts, we look forward to playing an even more active role in Schulthess’ future and to opening the next chapter in the company’s development. Based on the excellent reputation and the unique technological expertise of Schulthess, the market, product and service portfolio will be expanded, and the internationalization will be further advanced”, says Philipp Berner, Managing Partner at Helvetica Capital AG.

About Helvetica Capital – An independent, entrepreneurial investor focusing on companies in Switzerland and neighbouring regions

Helvetica Capital AG is an entrepreneurial investor with a focus on Swiss SMEs. Helvetica invests in companies and advises both entrepreneurs and investors on financing and succession solutions. The declared goal is the sustainable and long-term development of hidden champions through active operational and strategic deployment, as well as the contribution of relevant expertise.

About NIBE Group – A global organisation with worldwide presence

NIBE Group is a global organisation that contributes to a lower carbon footprint and better utilisation of energy. In the three business areas – Climate Solutions, Element and Stoves – NIBE develops, manufactures and markets a wide range of environmentally-friendly, energy-efficient solutions for indoor climate comfort in all types of properties, plus components and solutions for intelligent heating and control in industry and infrastructure.

Since its beginnings in the town of Markaryd in the province of Småland 70 years ago, NIBE has grown into a global group with 20,400 (18,700) employees on average. From the very start, the company has been driven by a strong culture of entrepreneurship and a passion for corporate social responsibility. Its success factors are long-term investments in sustainable product development and strategic acquisitions. Combined, these factors have brought about strong, targeted growth, which generated sales of just over SEK 30 billion (SEK 27 billion) in 2021.

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