Systemair buys Austrian air handling unit manufacturer

Nasdaq and Stockholm-listed ventilation company Systemair AB has bought Frivent Luft & Wärmetechnik, an Austrian manufacturer of air handling units, for an undisclosed sum.

Frivent produces air handling units, heat recovery systems and unique roof units for several niche applications and achives annual turnover of about €7m.

Systemair president and chief executive Roland Kasper said: "We see great opportunities with the company's unique knowledge within niche applications and their current market presence. This acquisition gives us a strengthened position in the region and a possibility to coordinate our activities in Austria,”

Shares in Systemair AB were up 0.32% to 158.50 Swedish krona at 1238 BST.