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Systemair acquires Reftec in Norway

May 6, 2013, 08:00
Regulatory information

Systemair (NASDAQ OMX Stockholm: SYSR) has signed an agreement to acquire Reftec AS, a supplier of commercial cooling and heat pumps for the Norwegian market.

Reftec founded in 2007 is headquartered in Trondheim and has a sales office in Oslo with 14 employees all together. The company had a turnover of NOK 34 million in 2012, with sales growth of over 30%. The acquisition is subject to approval by the Norwegian Competition Authority. Closing is expected to occur during May.

"We are pleased to have succeeded in acquiring a young growing company that will strengthen our organization with expertise in commercial refrigeration. We also see synergies between ventilation and comfort cooling in project sales. Reftec has been distributor on the Norwegian market for Systemair cooling products." says Svein Nilsen, VP Marketing for Systemair.

For further information contact:
Gerald Engström, CEO, +46 222 440 01, + 46 70 519 00 01
Svein Nilsen, VP Marketing, +47 930 627 00

Systemair AB, 739 30 Skinnskatteberg, Sweden, +46 222 440 00,

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.