Systemair AB (OM:SYSR) completed the acquisition of SagiCofim S.p.A. for approximately €33.6 million.
June 12, 2022
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Systemair AB (publ) (OM:SYSR) entered into a strategic agreement to acquire SagiCofim S.p.A. for €33.6 million on April 7, 2022. Systemair will pay the consideration of approximately €35 million on a debt and cash free basis. SagiCofim will continue its business activities in the filtration, air conditioning and engineered systems sectors (HVAC), integrating and expanding the mutual product offering and management will continue to lead the company. SagiCofim reported sales of €36 million and EBITDA of €4 million. The transaction requires approval from Italian government under the "golden power" regulation and expected to complete by the end of May 2022.The transaction has now been approved by the Italian authorities and completion of the transaction is estimated within 10 working days. The transaction for SagiCofim was assisted by the financial advisor EY S.p.A. and legal advisor BonelliErede.
Systemair AB (publ) (OM:SYSR) completed the acquisiition of SagiCofim S.p.A. for approximately €33.6 million on June 13, 2022.
Systemair AB is a Sweden-based company engaged in the development, production and marketing of ventilation products and solutions. The products are marketed under the Systemair, Fantech, Frico and VEAB brands. Systemair comprises mainly ventilation products, such as fans, air distribution products, chillers and air handling units; Fantech develops, designs and markets solutions for residential and commercial properties in North America; Frico focuses on air curtains and heating products, and VEAB focuses on the development, manufacture and marketing of heating products for ventilation systems, movable and stationary fan heaters, as well as dehumidification systems. The Company has operations in more than 40 countries in Europe, North America, South America, the Middle East, Asia, Africa and Australia. The Company operates Airwell, Alitis, Kolektor Koling doo, FRIVENT Luft- & Warmetechnik GmbH and Viking Air Conditioning Pty Ltd, among others.
SYSTEMAIR AB 
