SYSTEMAIR Acquires AIRWELL France
FRANCE – The assets of AIRWELL in France, the commercial air conditioning equipment manufacturer, have been taken over by the Swedish group SYSTEMAIR AB – one of European leaders in ventilation.
AIRWELL was in receivership when it was bought by the Swedish group SYSTEMAIR. The signing of the acquisition agreement was signed on 16 July. The recovery of the French firm focuses on brands, rights on products, and its sales force as well as the production site Tillières-sur-Avre, located in the Eure nearly 100 km to the west of Paris.
The factory specialises in the manufacture of heat pumps and covers an area of 36,000 square meters with 150 employees. The company has a total of 207 employees including sales and administrative staff. This production site generates annual revenues estimated at nearly €35 million per year.
Following the acquisition, the CEO of SYSTEMAIR, Gerald Engström announced “We are very pleased with the acquisition. It gives us a complete range of air conditioning products for the commercial market”. The current situation of the group allows it to increase sales, especially in air conditioning equipment, said the company CEO.
To recap, the Swedish group acquired the Italian production of AIRWELL three years earlier. The purchase of the production unit in France is a way to supplement its business. The giant in the field of air conditioning currently has 3,400 employees. The group’s sales companies are present in 45 countries and are based in 20 plants. Its total turnover is estimated at €600 million. Recently SYSTEMAIR has also acquired the MENERGA Company as part of its external growth.