Soler & Palau Acquires Minority Stake in ETS NORD

ETS NORD has gained a new strategic partner in Soler & Palau. According to the agreement signed on July 18, 2024, Soler & Palau Ventilation Group (S&P) will acquire a minority stake in ETS NORD from the current owners and make an investment in the Estonian company. This investment will be directed towards product development and the acquisition of new technologies. ETS NORD will continue to operate under its current management, and this transaction will not bring any changes to its business strategy. However, the involvement of the new investor will create new opportunities for ETS NORD to expand its product range and increase exports.

“We decided to partner with Soler & Palau because we see them as a strong and financially well-secured global partner capable of elevating ETS NORD’s products and services to a new level,” said Urmas Hiie, Chairman of the Board at ETS NORD. “This new investor allows us to expand our product range through S&P’s network into new markets, particularly in Europe, as well as the Middle East and Asia,” Hiie added. Through ETS NORD, S&P will also be able to market its products in Sweden and Finland, where the Estonian manufacturer has been operating for 15 years.

“We are delighted to collaborate with ETS NORD, a company that, like us, is dedicated to innovation and top-tier heating and ventilation products. This is a strategic step to strengthen our market position in the Nordic countries,” said José Palau Mallol, Chairman of Soler & Palau Ventilation Group. In the long term, by 2028, Soler & Palau plans to acquire a majority stake in ETS NORD.

With Spanish roots and over 70 years of experience, Soler & Palau develops and manufactures ventilation products for residential, commercial, and industrial sectors, operating in 90 countries across four continents and employing over 6,000 people. The company’s scale is highlighted by the fact that every six seconds, a Soler & Palau product is sold somewhere in the world.