Panasonic Corporation today announced that at the end of February 2023, its Heating & Ventilation A/C Company completed the acquisition of all of the outstanding shares of Systemair AC SAS, Systemair S.r.l. and Tecnair S.p.A., which operate commercial air-conditioning businesses owned by Systemair AB, a leading Swedish manufacturer of air quality and air-conditioning equipment.
The acquisition was completed after decision to acquire all of the shares in Systemair's air-conditioning business, announced on November 17, 2022, was approved by the regulatory authority under the competition law. The purchase price was 100 million euros.
The combination of the two companies' resources will lead to stronger development, production, sales and maintenance structures, as well as the development of highly efficient, environmentally friendly products and the creation of new, high value-added systems for hot-water supply and space heating in addition to air-conditioning systems.
