Sdiptech AB (publ) has acquired HeatWork AS, a leading manufacturer of mobile hydronic heating solutions. The company has an annual turnover of approximately NOK 120 million, with good profitability.

DHT, our Norwegian MAWW partner, advised HeatWork on this transaction.

HeatWork is a globally active company, with its head office and production facilities located in Narvik, Norway. The company also has a presence in Sweden and Finland for sales and service. HeatWork has 20 years of experience developing specialized products within hydronic heating. Its mobile power stations are specially designed to meet the needs in various applications, such as energy generation, agriculture & horticulture, pest control, construction, crisis preparedness, and municipal water protection. HeatWork has a strong focus on innovative, sustainable, high-quality solutions, contributing to a significant reduction in energy consumption, costs, and CO2 emissions.

"We are very happy to welcome HeatWork to the group. The company holds solid competence within its area and delivers an end-to-end solution from proprietary ideas and design to production, sales, and aftermarket services. HeatWork provides a unique and environmentally friendly alternative through 100 percent hydronic heat, which is more efficient than competing technologies, with low energy use and a high recycling effect," says Sarah Ström, Business Unit Manager of Resource Efficiency at Sdiptech.

"HeatWork contributes to a more sustainable future for coming generations. We are delighted to become part of Sdiptech, whose vision aligns with this. Sdiptech's knowledge within both niche infrastructure and energy solutions is also highly valued, which is another reason we believe this is a great fit for our further development. I look forward to following HeatWork's journey and am confident that the team at HeatWork, together with support from Sdiptech, will take the company to the next level," says Almar N. J. Markussen, founder of HeatWork.

Source: Globenewswire