EnergyWatch

Grundfos CEO hunting for acquisitions, but not "racing to spend billions"

Mads Nipper knows that Grundfos needs to make acquisitions to keep up with the technological development. But Grundfos remains remarkably cautious when it comes to acquiring businesses.

Photo: CHRISTIAN KLINDT SÿLBECK

Even though he, like most Danes, is an inherently modest person, Grundfos CEO Mads Nipper cannot help but exude excitement over 2017, a year in which the firm exceeded all of its targets.

In 2016, the Danish pump manufacturing group just barely booked positive growth, while Grundfos grew 5.3 percent organically in local currency in 2017.

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