Stiebel Eltron GmbH acquires the business of its Finnish distributor, Insinööritoimisto Olli Andersson Oy

Insinööritoimisto Olli Andersson Oy started to import and distribute Stiebel Eltron heat pumps and other energy equipment to Finland in 2009. The company has during these 4 years built an own, local dealership organization covering most of Finland. Due to this Stiebel Eltron has an about 5 % market share in Finland in heat pumps. Stiebel is also one of the 10 most sold heat pumps in Finland. Insinööritoimisto Olli Andersson Oy`s turnover was 4,5 M€ in 2012.

Stiebel Eltron GmbH is one of the leading, global heat pump manufacturers. The company is founded in 1888 and is still owned by Dr. Ulrich and Frank Stiebel. Stiebel Eltron International Group`s turnover was about 470 M€ in 2011. With 3 000 people in five national and international manufacturing plants, 15 subsidiaries worldwide and sales organizations and agencies in over 120 countries, Stiebel Eltron is a global player. The main factory in Holzminden covers 134 000 m2 with a production capacity of 60 000 heat pumps per year. About 40 percent of its turnover comes from overseas.

By buying Insinööritoimisto Olli Andersson Oy`s business Stiebel Eltron comes closer to its customers in one of its key markets, Finland. Stiebel aims at being local in key countries in the long run.

Stiebel Eltron's press release in German

ProMan Oy acted as the adviser to the Seller in the sales process.