NIBE Industrier AB (publ) (OM:NIBE B) acquired 65% stake in Miles Industries Ltd from Martin Miles and Paul Miles on January 1, 2023. NIBE Industrier AB (publ) will acquire remaining 35% stake by 2026. Martin and Paul Miles will continue to run the operations. Miles Industries has sales of some CAD 75 million and an operating margin that clearly exceeds 10%.
NIBE Industrier AB (publ) (OM:NIBE B) completed the acquisition of 65% stake in Miles Industries Ltd from Martin Miles and Paul Miles on January 1, 2023.