Systemair AB (NASDAQ OMX Stockholm: SYSR) has acquired the Austrian company FRIVENT Luft- & Wärmetechnik GmbH, a high-quality manufacturer of air handling units.
Frivent is located in St. Johann in Tirol, Austria, and achieves a turnover of around 7 million EUR by selling to commercial and industrial applications in Austria, Germany, Czech and Russia. The company produces air handling units, heat recovery systems and unique roof units for several niche applications.
“We see great opportunities with the company’s unique knowledge within niche applications and their current market presence. This acquisition gives us a strengthened position in the region and a possibility to coordinate our activities in Austria”, says Systemair’s President and CEO Roland Kasper.