Systemair acquires Menerga GmbH in Germany
Systemair (NASDAQ OMX Stockholm: SYSR) has signed an agreement to acquire Menerga GmbH in Germany, a leading European manufacturer of air handling units for comfort, pool and process ventilation with extra high efficiency.
Menerga was founded in 1981 and has its headquarters and production facilities in Mülheim an der Ruhr, just outside Dusseldorf. Sales in 2012 amounted to EUR 56.7 million of which 53% in Germany. The company currently has approximately 400 employees. The acquisition is subject to approval by the German antitrust authority Bundeskartellamt. Closing is expected to occur during May.
"We are very pleased to have succeeded in acquiring Menerga who have first class reputation in pool ventilation systems." says Gerald Engström, Systemair's President and CEO.
"We can see great synergy in our sales companies and believe that we through this are able to increase sales volumes significantly in the future. They bring at the same time technical know-how in the area of complex comfort and process ventilation systems which can be made use of at some of our other air handling unit factories within the group", concludes Gerald Engström.
For further information contact:
Gerald Engström, CEO, + 46 222 44 001, + 46 70 519 00 01
Roland Kasper, VP Marketing - Products, +46 222-44 013, +46 730 94 40 13
Systemair AB, 739 30 Skinnskatteberg, Sweden, +46 222 440 00, www.systemair.com
Systemair in brief
Systemair is a leading ventilation company with operations in 44 countries in Europe, North- and South America, the Middle East, Asia and South Africa. The Company had sales of SEK 4 billion in financial 2011/12 and currently employs about 3,400 people. Systemair has reported an operating profit every year since 1974, when the Company was founded. During the past 15 years, the Company's growth rate has averaged about 15 percent.
Systemair has well-established operations in growth markets. The Group's products are marketed under the Systemair, Frico, VEAB and Fantech brands. Systemair shares have been quoted on the Mid Cap List of the OMX Nordic Exchange in Stockholm since October 2007. The Group comprises about 60 companies.