Ventilation firm opens door for growth with new acquisition

VENTILATION company Systemair, which has its UK head office in Aston, Birmingham, has expanded its global operation with a deal to acquire 70% of the shares of a Turkish manufacturer.

HSK is Turkey’s leading manufacturer of air handling units and in 2011 the company had a turnover of £14.67m. The company has two production facilities on the outskirts of Istanbul, as well as sales offices in Azerbaijan, Georgia, Turkmenistan, Dubai and Iraq.  

Svein Nilsen, marketing director of Swedish-based Systemair, said: “Turkey is an interesting market with great potential and Turkish construction companies are also very active in surrounding markets. We see good synergy with our newly acquired Italian chiller factory.”

Gerald Engström, President and CEO of Systemair, said the deal contained a clause giving Systemair the option to acquire the remaining 30% of the HSK business within a period of four years.

The takeover is expected to complete this month.

Systemair is a leading ventilation company with operations in 44 countries across Europe, North and South America, the Middle East, Asia, Africa and Australia.

The company had sales of £320m in 2010/11 and currently employs around 3,000 people globally.