Published date:
Proheat acquired by NIBE Element
NIBE Element Strengthens Trace Heating offering.
Heat Trace Ltd announces investment in one of their key affiliate partners, Proheat. Formed in 2013 by José Ignacio Estopiñá and Joan Soler, and located in the province of Tarragona, Spain, Heat Trace Engineering Solutions S.L., trading and more commonly known as Proheat, has grown into a formidable engineering business with extensive knowledge and experience in the design, engineering and installation of trace heating systems to the process industries.
Joan Soler and José Ignacio Estopiñá, founders of Proheat.
Heat Trace Ltd are excited to have reached an agreement to invest in Proheat, which can allow both businesses to develop what is already a close working relationship into a more strategic technical partnership for the future.
With an extensive design, engineering and installation team, Proheat have long term strategic customer relationships in major process industry sectors such as; Thermal Solar, Chemical, Petrochemical and Renewable Energy. Their scope of work can range from basic product supply through to full turnkey process heating projects.
The Proheat Team
Says Simon Ellam, Heat Trace Ltd Managing Director, “Since the NIBE Element group acquired Heat Trace Ltd in 2021 we have continued to develop our trading relationships with key affiliates and distributors on an international level, and with a strong portfolio of process trace heating technology, have strategic plans to grow our design and engineering capabilities in this field. The team at Proheat have been considering ways in which they can grow their business to the next level and so we see that an investment into such a professional team can help both of our businesses to achieve ambitious growth plans”.
NIBE Element have acquired a controlling share in Heat Trace Engineering Solution L.P. trading as Proheat, with an agreement to increase their share holding over a number of years while the co-owners continue to operate the business as part of the board.
Proheat will continue to work closely with Heat Trace Limited while offering process heating services to the wider NIBE Element Group.
The official date of the acquisition is 1st October 2024.
Heat Trace Ltd www.heat-trace.com
Proheat www.heattraces.com
