SYSTEMAIR has agreed to take over the assets of Kryotherm AB who produce cooling and air handling all-in-one units in Sweden.
Kryotherm supplies factory made products largely based on the refrigeration process for use in commercial properties such as offices, shops and supermarkets.
The company was founded in 1967 and is based in Piteå, a small town in the north of Sweden. In the last 5 years, the turnover on average has amounted to about SEK 30 million (£2.9 million). However in 2010 turnover decreased and the company made a loss.
Systemair which has operations in 40 countries in Europe will take over all assets from the company and their 12 employees. Systemair's CEO Gerald Engström said: 'Kryotherm has products that complement our product range and gives us more opportunities to deliver complete solutions in ventilation systems. They have great knowledge and long experience in the field of ventilation unit with integrated cooling or heat pump. We see synergies in both product development and sales.'
• This article originally appeared in Heating & Ventilating Review