Karanovic & Partners advised NIBE – a global organisation that contributes to a smaller carbon footprint and better energy utilisation, on its’ acquisition of EMIN Group. Sweden-based NIBE Industrier AB signed an agreement to acquire 51% of the EMIN Group with operations in Turkey and Serbia, and has a call option to acquire an additional 29% in 2025.
Karanovic & Partners provided buyer-side advisory for the acquisition of EMIN’s operations in Serbia. Delphi – one of the top commercial law firms in Sweden, acted as lead counsel in this transaction, while Pekin & Bayar – a top tier Istanbul-based law firm, advised on the acquisition of EMIN’s operations in Turkey.
The Karanovic & Partners legal team – led by Senior Partner Dragan Karanović and Partner ⃰ Petar Mitrović, with the assistance of the firm’s Corporate, Employment and Real Estate teams, performed a full legal due diligence and negotiated the Serbian aspects of the transaction documents.
NIBE is a global group with operations and sales on five continents and with more than 60 years of experience manufacturing products intended for both household and commercial use. The company has more than 15,000 employees in Europe, North America, Asia and Australia, and is listed on Nasdaq Stockholm, Large Cap list, since 1997, with a secondary listing on the SIX Swiss Exchange since 2011.
EMIN Group is a manufacturing company with 340 employees in Turkey and Serbia. With sales amounting to approximately EUR 14 million, EMIN’s main products are coupling systems for fluids sold to manufacturers of energy equipment.
NIBE is EMIN’s largest customer and accounts for more than 50% of sales.
⃰ Independent attorney at law in cooperation with Karanović & Nikolić.