Systemair Completes Its Acquisition of Systemair HSK Türkiye Shares

Systemair AB, a leader in the ventilation sector, recently announced the successful acquisition of the final 10% of shares from the Eroğlu family in their Turkish subsidiary, Systemair HSK Türkiye. This move marks a significant milestone for Systemair, solidifying their full ownership of a company that has shown remarkable growth and development since its initial investment.

The journey began in August 2012 when Systemair acquired 70% of HSK Türkiye's shares, followed by an additional 20% later that year. This strategic investment included an option to purchase the minority shareholding, which has now been fully executed. Systemair has witnessed substantial progress in HSK Türkiye's operations, with annual sales figures reaching approximately EUR 55 million and employee numbers swelling to around 350.

Under the guidance of current Managing Director Ayça Eroğlu, Systemair HSK Türkiye has cultivated a strong market position. The company boasts a modern production facility that spans 28,000 square meters, strategically located near Istanbul. With the completion of this acquisition, Systemair aims to leverage HSK Türkiye's capabilities to enhance its offerings and further penetrate the Turkish market.

Ayça Eroğlu will continue to contribute to the company's success through a board position, ensuring that the firm's rich legacy and management expertise remain intact as the company moves forward. The acquisition is currently pending approval from Turkish competition authorities, with expectations for a rapid final decision.

Systemair itself is no stranger to success, having recorded consistent growth averaging 9% over the past decade. The company, founded in 1974, operates in over 51 countries across various continents, including Europe, North America, and Asia. In the 2023/24 fiscal year, Systemair reported an impressive turnover of SEK 12.3 billion and employs around 6,700 team members globally.

The organization is renowned for its commitment to enhancing indoor environments through sustainable and energy-efficient solutions, significantly minimizing carbon emissions. With such a solid foundation and ongoing investments, Systemair is poised to maintain its leadership position in the ventilation industry, continuing to innovate and adapt to market demands.

In conclusion, by securing complete ownership of Systemair HSK Türkiye, Systemair is reinforcing its strategic objectives in Turkey and setting the stage for future expansions and success in the region. Market observers will undoubtedly keep a keen eye on how this acquisition unfolds and contributes to Systemair’s overarching growth strategy.