Swegon Group AB has agreed to divest UltimAir, a subsidiary of Swegon Netherlands, to Airvance Group and to acquire Dantherm’s residential ventilation business in Denmark. The two transactions reflect Swegon’s stated strategy to focus on developing and manufacturing HVAC products and complete system solutions while strengthening its position in the residential indoor climate segment in Denmark and the Nordic region.
Swegon said UltimAir operates as a wholesale distributor of third-party products, while the indoor climate market has shifted toward more integrated system solutions in recent years. The company said the transfer places UltimAir in a business environment aligned with its distribution-oriented operations, noting that Airvance Group focuses on wholesale distribution and was UltimAir’s former owner. UltimAir, headquartered in the Netherlands, has a turnover of EUR 9.4 million [about USD 10.2 million].
The Dantherm transaction includes the development, manufacturing and sales of air handling units for residential applications. According to the companies, the Dantherm portfolio has a strong market position in Denmark and significant international sales, creating opportunities for continued growth in the home market and exports. Dantherm said the business will continue to operate from Skive, Denmark.
“UltimAir has been a valued part of Swegon, and we are proud of the work the team has done,” said Eva Karlsson, CEO Swegon Group. “At the same time, our strategic direction is clear: we are concentrating our efforts on system solutions developed and manufactured within Swegon. Airvance, with their strong wholesale profile, will provide a solid foundation to take UltimAir forward.”
“The residential business is a key market segment for us at Swegon, and the addition of the highly esteemed Dantherm residential portfolio is a major milestone for our long-term strategy. It complements our existing product range and allows us to serve our customers with an even stronger and broader offer,” Karlsson said.
