Nelbud Acquired by Finnish Company
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based Nelbud Services Group had been acquired by an indoor air technology company headquartered in Finland. Halton Group says the addition of Nelbud to its portfolio will provide a springboard for the company’s growth strategy.
Financial terms of the acquisition are not being disclosed. Nelbud, which made Indianapolis its headquarters in 2018, provides ventilation services and fire protection for commercial kitchens.
Nelbud has nearly two dozen locations in the Midwest and East Coast, as well as Las Vegas.
“Halton’s goal is to continuously add value to our customers’ business,” Mika Halttunen, chairman of the board at Halton, said in a news release. “Combining Halton’s technological expertise and Nelbud’s strong local service presence in many key markets gives us excellent opportunity to create better life-cycle value.”
A spokesperson for Halton tells Inside INdiana Business Nelbud will “continue on a path of growth,” which includes an expectation of additional jobs over time. Nelbud Chief Executive Officer Michael Crafton says he is “excited for the opportunities this creates for all Nelbud employees as we focus on our employee-first mission of creating sustainable careers.”
In September 2019, Crafton appeared on Inside INdiana Business with Gerry Dick to talk about the company’s growth. You can watch the full interview below: