Systemair Completes Acquisition of Systemair HSK Türkiye

Deal News | Dec 12, 2024 | PR Newswire Cision Systemair AB

Thorough Systemair AB, a leading ventilation company listed on NASDAQ OMX Stockholm, has completed the acquisition of the remaining 10 percent of shares in Systemair HSK Türkiye, thereby securing full ownership. Having initially acquired 70 percent in 2012 followed by another 20 percent later that year, Systemair finalized this strategic move by purchasing the shares from the founding Eroğlu family. Since the initial investment, Systemair HSK Türkiye has expanded significantly, achieving sales of around EUR 55 million and staffing around 350 employees. This success has been underscored by a new 28,000 square meter factory outside Istanbul and a robust market position established under the guidance of Managing Director Ayça Eroğlu, who will now join the board. The acquisition remains subject to Turkish competition authority approval, with completion expected in the coming months. Systemair continues to be a major player internationally, serving markets across Europe, North America, the Middle East, Asia, Australia, and Africa, with a reported turnover of SEK 12.3 billion in the 2023/24 financial year.

Sectors

  • Ventilation and Air Conditioning
  • Mergers and Acquisitions (M&A)

Geography

  • Sweden – Systemair AB is headquartered in Skinnskatteberg, Sweden.
  • Turkey – The acquisition involves Systemair HSK Türkiye, located outside Istanbul, Turkey.

Industry

  • Ventilation and Air Conditioning – The article centers on Systemair, a company leading innovations in ventilation and air conditioning solutions.
  • Mergers and Acquisitions (M&A) – The article discusses the completion of a share purchase agreement, reflecting M&A activities.

Financials

  • EUR 55 million – The sales figure for Systemair HSK Türkiye following its strategic development.
  • SEK 12.3 billion – Total turnover for Systemair AB in the financial year 2023/24.

Participants

NameRoleTypeDescription
Systemair ABAcquirerCompanyA leading global company in ventilation solutions, listed on NASDAQ OMX Stockholm.
Systemair HSK TürkiyeTarget CompanyCompanyTurkish subsidiary of Systemair involved in the manufacturing and distribution of ventilation systems.
Eroğlu FamilySellerPeopleFounding family of Systemair HSK Türkiye, selling their remaining shares in the company.
Ayça EroğluManaging DirectorPersonCurrent Managing Director of Systemair HSK Türkiye, transitioning to a board member role.
Roland KasperCEOPersonCEO of Systemair AB.
Anders UlffCFOPersonCFO of Systemair AB.