Systemair acquires Lu-Ve’s close control AC business

SWEDEN/ITALY: Systemair has acquired Tecnair LV, the shut management air conditioning unit company and member of the Lu-Ve Team, for €16.2m.

The offer sees Systemair obtaining 80% of the shares from Lu-Ve and the remaining 20% from the Monti family. 

In 2021, Tecnair LV accomplished sales of €12m with an EBITDA of €1.2m and a positive web money place modified of €1.2m. The buy contract is mentioned to include illustration and warranties customary for this form of transaction on the global marketplaces.

As component of the offer, Lu-Ve Group and Systemair will enter into a long-term worldwide agreement for the offer to Systemair of warmth exchangers coils and related products. At the exact same time, the two providers will continue on to extend their cross-promoting activity associated to shut command air conditioning units.

Tecnair is positioned adjacent to the Lu-Ve factory in Uboldo, outside Milan, but will relocate to Systemair’s present premises in Barlassina 15km away. The Italian sector accounts for about 25% of Tecnair’s product sales and the relaxation is exported predominantly within Europe.

Lu-Ve Team president Iginio Liberali said: “I am self-confident that Tecnair LV will have even greater opportunities to carry on producing underneath the ownership of Systemair and at the very same time this transaction results in a new promising cooperation with an important team this kind of as Systemair.”

Systemair president and CEO Roland Kasper stated that Tecnair enhances Systemair in several places. “We also see great synergies by coordinating manufacturing, merchandise growth and gross sales of Tecnair with our existing facility in Barlassina. As a result of the acquisition we get a stronger market situation and fantastic synergies in the area of air conditioning items in the European sector,” he mentioned.

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