Systemair AB (NASDAQ OMX: SYSR) has signed an agreement to acquire Change Air in Canada. The company is a leading manufacturer of ventilation equipment for classrooms in North America.
Change Air turnover during the 2011 equivalents to SEK 84 million with an operating profit of SEK 12 million and has had a growth of 21% over the past three years. The company with 65 employees has its headquarters and a manufacturing facility in Ontario, Canada. Takeover takes place immediately.
"The acquisition of Change Air opens up new marketing channels for Systemairs products. This gives us access to 59 sales agents with together approximately 300 sales engineers in North America. These cover 42 states in the United States, and 6 provinces in Canada.", says Gerald Engström, President and CEO for Systemair.
"This acquisition gives us great opportunities to grow within the commercial market in North America and reinforce our commitment to market the Systemair brand in this segment.", says Gerald Engström, President and CEO for Systemair.