Systemair Strengthens Turkish Presence with HSK Acquisition

Systemair AB, a leading global ventilation company, has announced its acquisition of the remaining 10 percent of the shares in Systemair HSK Türkiye from the founding family Eroğlu. This strategic move further solidifies Systemair's market position in Turkey and sets the stage for enhanced growth and expansion in the broader Middle East region.

The acquisition, valued at an undisclosed amount, follows Systemair's initial purchase of 70 percent of HSK's shares in 2012 and an additional 20 percent in the same year. The agreement included an option to acquire the minority shareholding at a later date, which Systemair has now exercised. The acquisition is subject to approval from the Turkish competition authorities, with final approval expected in the coming months.

Systemair HSK Türkiye, with a turnover of around EUR 55 million and approximately 350 employees, has shown strong growth since the initial acquisition in 2012. The company's modern factory outside Istanbul, covering 28,000 m2, is a testament to its commitment to expansion and innovation. By integrating Systemair HSK Türkiye fully into its operations, Systemair can leverage the subsidiary's expertise in air handling units and local market knowledge to enhance its product offerings and customer service.



The acquisition is expected to create synergies and strengthen Systemair's position in the Turkish market. With a well-established business in growth markets, Systemair has reported an operating profit yearly since 1974 and has averaged 9 percent growth over the past 10 years. The company's energy-efficient and sustainable products help improve indoor climate and reduce carbon dioxide emissions, aligning with global trends towards a greener future.



In conclusion, Systemair's acquisition of the final 10 percent of Systemair HSK Türkiye is a strategic move that bolsters the company's market share and competitive landscape in Turkey. The full acquisition will likely enhance Systemair's ability to expand its product offerings and services in the broader Middle East region, driving growth and profitability. As Systemair continues to invest in sustainable technologies and expand its global footprint, investors can expect the company to remain a strong player in the ventilation industry.