For an undisclosed amount, A.P. Møller Holding has acquired Nissens Cooling Solutions (NCS) from the investment fund Axcel. NCS specializes in cooling solutions and is, among other things, an important supplier to the wind industry.
- Cooling solutions and thermal management are fundamental to renewable energy. The more efficient the cooling solution, the more efficiently we can produce and consume renewable energy. At A.P. Møller Holding, we are dedicated to investing in the transition to a renewable energy system, and we therefore see Nissens Cooling Solutions, a leading supplier of customized cooling solutions, as an important addition to our portfolio, says Jan T. Nielsen, Investment Director at A.P. Møller Holding.
NCS was founded in 1921 and today serves a global customer base. The company has approximately 1,000 employees working from Denmark, China, the Czech Republic and Slovakia. NCS provides all steps from technology, design, testing to scale production of cooling solutions integrated in primarily wind turbines and other industrial end markets.
- We look forward to Nissens Cooling Solutions becoming part of the AP Møller Group. Nissens Cooling Solutions has a proud history and a promising future as renewable energy and electrification in general continue to penetrate the global energy markets. Being part of the AP Møller Group opens up new opportunities for Nissens Cooling Solutions, says Mikkel Krogslund Anders, CEO, NCS.
A.P. Møller Holding's acquisition of NCS is subject to approval from the relevant competition authorities and is expected to be completed in the second half of 2021. Nissens also produces climate and engine cooling systems for vehicles in the Nissens Automotive division. Axcel will continue to own Nissens Automotive, which is why NCS will become a separate, independent company after the acquisition.
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