Market news, 06 March 2025
Systemair Completes Acquisition of Remaining Shares in Systemair HSK Türkiye
Date:
17 December 2024
Systemair has finalized the acquisition of the remaining 10 percent of shares in Systemair HSK Türkiye from the founding Eroğlu family.
Initially acquiring 70 percent of the Turkish company HSK in August 2012, Systemair increased its ownership to 90 percent by the end of the same year. The agreement included a provision allowing for the purchase of the remaining minority shares at a future date. Since the original acquisition, the company has seen significant growth, with sales reaching approximately EUR 55 million and employing around 350 staff. A modern 28,000 m² factory has been established outside Istanbul, solidifying its market position under the current management. Ayça Eroğlu will continue to support the company in a board role post-acquisition.
With this acquisition, Systemair now owns 100 percent of Systemair HSK Türkiye shares. The completion of this transaction is pending approval from the Turkish competition authorities, with final approval anticipated in the coming months.
Initially acquiring 70 percent of the Turkish company HSK in August 2012, Systemair increased its ownership to 90 percent by the end of the same year. The agreement included a provision allowing for the purchase of the remaining minority shares at a future date. Since the original acquisition, the company has seen significant growth, with sales reaching approximately EUR 55 million and employing around 350 staff. A modern 28,000 m² factory has been established outside Istanbul, solidifying its market position under the current management. Ayça Eroğlu will continue to support the company in a board role post-acquisition.
With this acquisition, Systemair now owns 100 percent of Systemair HSK Türkiye shares. The completion of this transaction is pending approval from the Turkish competition authorities, with final approval anticipated in the coming months.
