Skinnskatteberg, Sweden, 26 September 2018: Sweden-based company Systemair has acquired Spain-based Koolair, the former company announced in a Press communiqué. Koolair is a manufacturer of air distribution products for the Spanish market, the communiqué said. The agreed purchase price amounts to EUR 20 million (USD 23.485 million), the communiqué further said.

Commenting on the acquisition, Roland Kasper, President and CEO, Systemair, said: “We see great opportunities with the company’s current market presence and product portfolio. This acquisition gives us a strengthened market position and good synergies within air distribution products in the European market.”

According to Systemair, the transaction is scheduled to close on November 1, 2018.