Systemair acquires Spanish ventilation company

The Swedish ventilation company Systemair has acquired the assets of the Spanish company Koolclima from the Koolair group. The acquisition of the producer of ventilation products includes the rights to the Koolclima trademark and further strengthens Systemair’s position in the Spanish market.

Koolclima’s product range, including ventilation units, fans and fan convectors has a strong position in the Spanish market. The company, based just outside Madrid employs more than fifty people with over half of those involved in manufacturing. Sales of 7,700,000 Euros were achieved last year (2006).



Systemair President and CEO Gerald Engstrom see's great opportunities for growth in Spain, “the acquisition expands our product range whilst at the same time facilitating further sales of our current product portfolio in the region. It also means we add a well functioning manufacturing unit to our operations in Southern Europe.”



Koolclima will join with existing group company Systemair Spain S.L.U. to form a new company Koolclima-Systemair, with the production and workforce remaining as it was before the acquisition. The company will be headed new Managing Director, Pedro José Dorado Mencias who previously held the position of Marketing Manager within Koolclima. Patrik Hermansson will take over as Deputy Managing Director as well as heading up the marketing department, Patrik previously held the position of Managing Director of Spanish subsidiary company Systemair Spain.



For further information contact:

Gerald Engström, President and CEO +46 222 440 01 or +46 70 519 00 01

Glen Nilsson, CFO +46 222 44003 or +46 706544003



Systemair in brief

Systemair is a leading ventilation company with its main activities in Europe and in North America. The company turned over 280 MEUR during the financial year 2006/2007 and has approx. 1550 employees. Systemair has a well established presence in growth markets, especially in Central and Eastern Europe including Russia. The Group´s products are sold under the brand names Systemair, Frico, VEAB and Fantech. Since the formation of Systemair in 1974 the company has increased its sales every year, always producing positive results. During the last ten years the company has achieved an average annual growth of 16 percent. The company has announced an IPO on the Stockholm Stock Exchange during 2007.