Italian authorities have approved Systemair's acquisition of SagiCofim S.p.A.
Press Release, May 30, 2022
Systemair (NASDAQ OMX Stockholm: SYSR) announced on April 7, 2022 the agreement to acquire all shares in the Italian company SagiCofim S.p.A. The purchase has now been approved by the Italian authorities and completion of the transaction is estimated within 10 working days.
SagiCofim is a leading international supplier with extensive experience in air filtration and air distribution. The company's production facility in Cernusco sul Naviglio, Milan, produces highly efficient air filters of HEPA and ULPA class. In Sondrio in the Valtellina Valley, the company owns 50% of EFFEBI SRL, which manufactures products for air distribution.
The companies' consolidated sales in 2021 amounted to approximately EUR 36 million with an EBITDA result of EUR 4.0 million. The companies have about 200 employees. Completion of the transaction is estimated within 10 working days.
For further information contact:
Roland Kasper, CEO, + 46 73 094 40 13
Anders Ulff, CFO, + 46 70 577 40 09
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 52 countries in Europe, North America, the Middle East, Asia, Australia and Africa. The Company had sales of SEK 8.5 billion in the 2020/21 financial year and today employs approximately 6,600 people. Systemair has reported an operating profit every year since 1974, when the company was founded. Over the past 10 years, the Company's growth rate has averaged about 10 percent. Systemair helps to improve the indoor climate with the help of energy-efficient and sustainable products that reduce carbon dioxide emissions.
Systemair has well-established operations in growth markets. The Group's products are marketed under the Systemair, Frico, Fantech and Menerga brands. Systemair shares have been quoted on the Nasdaq OMX Nordic Exchange in Stockholm since October 2007, today on the Large Cap List. The Group comprises about 90 companies.