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.
Systemair AB, 739 30 Skinnskatteberg, Sweden, +46 222 440 00, www.systemair.com