Systemair (NASDAQ OMX Stockholm: SYSR) have reached agreement to acquire the Russian ventilation supplier Ventrade.
Ventrade markets products for ventilation and air conditioning and is since many years one of Systemair's biggest customers in Russia. The company is headquartered in Moscow and has sales offices and warehouses in 11 cities. In 2010, the company had sales of approximately to SEK 290 million and currently has 200 employees. Access is expected to take place in late June and approval by the Russian competition authority has been obtained.
-"This acquisition gives us great opportunities to increase the proportion of Systemair products and we get a good coverage throughout Russia that gives us great growth potential," says Gerald Engström, CEO of Systemair.
- "The combination between ventilation and air conditioning provides expanded opportunities for larger air handling units. We also see good synergies with our production site in Lithuania where we currently are expanding our production capacity", says Gerald Engström.
