Systemair acquires Koolair
Press Release, 26th of September 2018
Systemair AB (NASDAQ OMX Stockholm: SYSR) has acquired the Spanish company Koolair. Koolair is a leading manufacturer of Air Distribution Products for the Spanish market. The export markets contribute with 50% to the turnover of the company.
Koolair is specialized in manufacturing of Air distribution Products. The production in Mostoles outside of Madrid is highly automated. The turnover of the company amounts to 30 million EUR. Closing of the transaction is scheduled to November 1st 2018.
The agreed purchase price amounts to 20 million EUR.
"We see great opportunities with the company's current market presence and product portfolio. This acquisition gives us a strengthened market position and good synergies within Air Distribution Products on the European market." says Systemair's President and CEO Roland Kasper.
For further information contact:
Roland Kasper, CEO, + 46 73 094 40 13, +46 222 440 13
Anders Ulff, CFO, + 46 70 577 40 09, +46 222 44 009
Systemair AB, SE-739 30 Skinnskatteberg, Sweden, +46 222 440 00, www.systemair.com
Systemair in brief
Systemair is a leading ventilation company with operations in 50 countries in Europe, North- and South America, the Middle East, Asia and Africa. The Company had sales of SEK 7.3 billion in financial year 2017/18 and currently employs about 5,500 people. Systemair has reported an operating profit every year since 1974, when the Company was founded. During the past 10 years, the Company's growth rate has averaged about 9 percent.
Systemair has well-established operations in growth markets. The Group's products are marketed under the Systemair, Frico, VEAB, Fantech, Menerga and Holland Heating 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 70 companies.