Lindab, the Swedish manufacturer of construction and ventilation systems in steel and sheet metal, today announced that it has signed an agreement to acquire Airbat, a French ventilation firm whose primary focus is on circular air ducts.

Lindab plans to combine its current operations with Airbat to create a strong, complete supplier of ventilation products for the French market. Combining the two companies is expected to result in positive synergy benefits. The purchase price has been agreed upon for a cash-sum of SEK 20 million (EUR 2.2 million).

Airbat, with its headquarters near Paris, employs 25 staff. Net sales for the twelve-month period ending 31 March 2006 totalled approximately SEK 41 million (EUR 4,531 K) and EBITA for the same period amounted to approximately SEK 5 million (EUR 555 K).

 

The Lindab Group operates two business areas, Ventilation and Profile. The group generated sales of SEK 5,457 million during the first nine months of 2006, of which Ventilation accounted for SEK 2,562 million. The most important markets for the Ventilation business area are the Nordic countries and Western Europe. In France, Lindab's head office and production unit is situated in the Lyons region with 7 branches throughout the country. The acquisition of Airbat will strengthen Lindab's position in the important Paris region as well as strengthening Airbat's offering with Lindab's product programme.

 

"This acquisition represents a further step in Lindab's strategy to accelerate growth in the circular duct business outside of the Nordic countries" says Kjell Åkesson, CEO, Lindab Group.