Systemair Completes Acquisition of Remaining Shares in Systemair HSK Türkiye

In a significant move to consolidate its presence in the Turkish market, Systemair AB has successfully completed the purchase of the last 10 percent of shares in Systemair HSK Türkiye. This acquisition has received the green light from Turkish competition authorities, paving the way for the Swedish ventilation giant to possess complete ownership of its Turkish subsidiary. The announcement was made on January 17, 2025, marking an important milestone for the company.

The decision to acquire the remaining shares was initially revealed in December 2024, reflecting Systemair's ongoing strategy of expanding its operations in key markets. Roland Kasper, the CEO of Systemair, expressed enthusiasm about the completion of this acquisition, emphasizing its importance in strengthening the company's foothold and operational efficiency in the region.

This strategic move is set against the backdrop of Systemair's impressive track record of growth in the HVAC (Heating, Ventilation, and Air Conditioning) sector. Since its inception in 1974, Systemair has maintained a commendable annual operating profit, showcasing its resilience and market adaptability. With a reported turnover of SEK 12.3 billion for the 2023/24 financial year, and a workforce of around 6,700 employees, the company is well-positioned to enhance its service offerings in Türkiye and beyond.

By acquiring full ownership of Systemair HSK Türkiye, the company aims to further develop innovative and energy-efficient ventilation solutions tailored to meet local demands. Systemair's products are engineered to improve indoor climate while reducing carbon dioxide emissions, aligning with global sustainability goals. The full acquisition is expected to not only streamline operations but also facilitate the introduction of advanced technologies in the Turkish market.

Systemair's Global Presence

Systemair operates in 51 countries across Europe, North America, the Middle East, Asia, Australia, and Africa. Its commitment to providing top-tier ventilation technologies has solidified its status as a key player in the global HVAC industry. The acquisition highlights Systemair's strategic approach to business expansion, with recent growth averaging 9 percent over the past decade.

The company has approximately 90 subsidiaries worldwide, with shares traded on the Nasdaq OMX Nordic Exchange in Stockholm since October 2007. The listing on the Large Cap List reflects investor confidence in Systemair, as it continues to innovate and lead in energy-efficient indoor climate solutions.

Future Prospects

Looking ahead, Systemair is poised to leverage its complete ownership of HSK Türkiye to tap into new market opportunities and further enhance its product offerings. With a clear focus on sustainability and customer-centric innovation, Systemair is set to make a significant impact in the Turkish market. As the demand for efficient HVAC systems rises, particularly in rapidly urbanizing spaces, Systemair's complete ownership of its Turkish operations positions it strategically to capitalize on this trend.

As a response to current challenges in the industry and the pressing need for sustainability, Systemair's initiatives are more crucial than ever. The successful acquisition signifies not just an increase in ownership but a commitment to delivering superior products that contribute to improved living and working environments.

For more details, interested parties may contact:

- Roland Kasper, CEO, +46 73 094 40 13
- Anders Ulff, CFO, +46 70 577 40 09

In conclusion, Systemair's acquisition of the final shares in Systemair HSK Türkiye marks a new chapter in the company’s growth story, as it continues to enhance its operational capabilities and respond to emerging market demands.