JAPAN/SWEDEN: Panasonic has announced its intention to acquire the commercial air conditioning business of Swedish HVAC manufacturer Systemair AB for EUR 100 million.
The agreement includes the acquisition of Systemair’s Italian companies Systemair Srl and Tecnair SpA, as well as business carried out by employees of the Air Conditioning Sales Department of Systemair GmbH in Germany, which requires HR consulting in Germany.
In addition, Panasonic has offered to acquire all of the outstanding shares of its French subsidiary, Systemair AC SAS, and expects Systemair to accept the offer following negotiations on human resources in France.
Panasonic stated that the acquired company will operate as a consolidated subsidiary of the Panasonic-branded commercial air-conditioning business once the necessary procedures are completed.
These businesses include the manufacture and sale of air and water cooled chillers and heat pumps, as well as rooftops and other commercial air conditioners.
In 2012, Systemair acquired factories in France and Italy from French air conditioner manufacturer Airwell, an Italian factory in Barlassina near Milan, and a French factory in Tilliera in 2014.
In January, Systemair acquired Tecnair, a manufacturer of indoor air conditioning equipment, from the Lu-Ve Group.
Panasonic started working with Systemair in 2019 to produce Panasonic ECOi-W chillers for heat pumps at Systemair’s French plant.
Panasonic said in a statement that by making Systemair’s three air conditioning companies its consolidated subsidiaries, “it will create a new design, manufacturing, sales and service structure for its commercial air conditioning business and create a more efficient hot water supply.” a high value-added solution that provides space heating in addition to air conditioning by pooling resources owned by both companies.”
Panasonic will also benefit from the inclusion of commercial cycle air conditioners in its portfolio.
Commenting on the deal, Masaharu Michiura, President of Panasonic HVAC, said: “In 2019, we formed a business alliance with Systemair to start purchasing commercial air conditioners. accelerate the delivery of the high value-added solutions our customers demand.”
Roland Kasper, President and CEO of Systemair, said: “We have decided to sell our air conditioning business in Italy and Germany and intend to sell our air conditioning business in France because we are confident that by focusing on our core business, ventilation, will strengthen our offer for our customers. The service is in line with our strategy.”
Panasonic Announces Alliance with Systemair – February 26, 2019 Spain: Air-conditioning manufacturer Panasonic has announced a range of heat pump chillers as part of a new “strategic partnership” announced with Swedish ventilation company Systemair. read more…
Systemair acquires Lu-Ve closed loop business – January 31, 2022 Sweden/Italy: Systemair has acquired closed loop unit manufacturer and Lu-Ve group member Tecnair LV for €16.2 million. read more…