Systemair buys its Italian distributer
SWEDISH ventilation firm Systemair has completed the purchase of its Italian distributor Climaproduct.
Climaproduct has been a distributor for Systemair since 1992, and also supplies ventilation products from producers other than Systemair.
Climaproduct have been in business for over 24 years and has 40 employees. Its head office is located in Milan with a smaller production unit is based in Padova.
The Italian firm has an annual turnover of just under £8m with an operating profit of £820,378.
Climaproduct's name has been changed to Systemair Climaproduct.
The purchase is the latest in a series of recent acquisitions by Systemair. In 2007, Systemair acquired assets in Matthew & Yates, a UK manufacturer of axial fans. Systemair also bought Imos, a Slovakian manufacturer of air terminal devices and the assets of Spanish firm Koolclima specifically its marketing and manufacturing of air handling units.
Systemair has 1700 employees around the world.