This acquisition enables the France Air group to accelerate the internationalisation strategy that Laurent Dolbeau has been implementing for the last five years, creating a European leader in Ventilation for buildings with 1800 employees based in 14 countries in Europe.

In 2018, the SIG Air Handling division reported approximately 350 million euros revenue while the France Air group recorded almost 150 million euros. The new group is expected to achieve a combined revenue of approximately 500 million euros, propelling the new venture into the top five biggest players on the European ventilation market for indoor air quality and comfort.

Laurent Dolbeau, chief executive of the France Air Group, said: “This acquisition will enable the group to change dimension and become one of the leaders in the European ventilation market, without changing our business model. It will also enable the group to retain its financial independence and preserve the human and management values which have been key to the success of France Air: managerial autonomy, accountability and commitment.”

Olivier Dolbeau, president of the France Air Group, added: “This acquisition provides a great opportunity for the France Air group to grow and expand onto the international scene whilst retaining the family's shareholding, an approach which has been central to the history the company has built over the last 60 years.”