Brussels-Stockholm, 22 December 2025, E-Spring is pleased to announce that it has acted as exclusive financial advisor to the shareholders of Thermibel S.A., a leading Belgian manufacturer of temperature sensors and calibration equipment, on the sale of the company to Indutrade AB, an international industrial and technology group listed on Nasdaq Stockholm.

E-Spring provided a full-service advisory approach, supporting the shareholders throughout the entire transaction process, including strategic preparation, positioning, identification of potential buyers, coordination of a competitive international process, negotiations, and execution up to closing.

Leveraging its international network of industrial groups and financial investors, E-Spring generated strong interest from high-quality counterparties, enabling the shareholders to select a long-term partner aligned with Thermibel’s entrepreneurial culture, growth ambitions, and employees.

The transaction ensures continuity for Thermibel’s management team and staff, while providing the company with the resources to accelerate its development within Indutrade’s Technology & Systems Solutions business area.

Seller testimonial

“E-Spring demonstrated an exceptional level of commitment and professionalism throughout the process. Their deep understanding of our business, combined with their international reach and hands-on execution, allowed us to run a highly competitive process and achieve an excellent outcome. We felt supported at every step and could not have asked for a better advisor.”
— Romuald Pistis, CEO  of Thermibel

About E-Spring

E-Spring is an independent corporate finance advisory dedicated to entrepreneurs, families and shareholders. The firm advises on M&A, capital raising, and strategic transactions, with a focus on mid-market companies across Europe. E-Spring is known for its partner-led, hands-on approach and its ability to combine local insight with international reach.