Schulthess Maschinen AG produces washing machines and dryers for private households, apartment blocks and for businesses and industry. THe company has been a wholly owned subsidiary of the NIBE Group since the acquisition of the Swiss publicly traded Schulthess Group AG in April 2011, in which the German heat pump manufacturer Alpha lnnotec was the dominating part and the main reason for the acquisition. The NIBE Group is, through its subsidiary Schulthess Group AG, divesting 100% of the shares in Schulthess Maschinen AG (Schulthess), to the value of 150 MCHF on a cash and debt free basis, to a newly registered Swiss holding company, HC Holding Eta AG, in which the NIBE Group will initially hold 51% of the shares during at least the coming three-year period. Helvetica Capital AG and its Swiss Entrepreneur Investor Platform will hold a significant stake and the Management a smaller but still important stake of the remaining 49% of the shares. The price for the sale is in line with the book value of Schulthess Maschinen AG in the NIBE Group´s balance sheet. The transaction will strengthen the cash position with well over 100 MCHF. The transaction will be fully completed during August 2019.