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Menerga becomes part of the Systemair Group
Menerga becomes part of the Systemair Group

Mülheim an der Ruhr, 28. March 2013 – Systemair (NASDAQ OMX Stockholm: SYSR) has agreed upon the acquisition of 100% of the shares with the previous shareholders of the Menerga GmbH.

Menerga was founded in 1981 and is one of the leading manufacturers of AHU in Europe in the market of swimming pool halls as well as comfort and process climatisation with a strong focus on energy efficiency. Menerga is located in Mülheim an der Ruhr, Germany. Turnover in 2012 was EUR 56.7 million with a share of ca. 50% sales outside of Germany. The company employs ca. 400 people.

“We are very pleased with the successful acquisition of Menerga GmbH, which has an excellent reputation especially in the field of swimming pool-climatisation”, says Gerald Engström, founder and CEO of Systemair.

For just about one year Menerga has a newly formed leadership team with Dr. Christian Hennerkes and Helge Kahlen who have actively driven the process of finding a suitable investor for Menerga and have personally carried out the negotiations with CEO Gerald Engström. Managing director Dr. Christian Hennerkes: “Today Menerga has entered into a new era. The collaboration with Systemair offers completely new opportunities for us, so that we will be able to produce and market our leading technologies worldwide even more efficiently. In the context of an intensifying competition we trust that we are very well prepared for the future.”

Under the umbrella of Systemair Group Menerga as a company will remain independent with its own brand, the production in Mülheim an der Ruhr as well as with its sales offices in Europe.

Gerald Engström: “We see major synergies within the Systemair Group and we are convinced that we can substantially increase the volume of sales with the existing management team. In return we benefit from the excellent technical Know-How of Menerga with regards to complex applications and first-class ventilation systems.”

Systemair is a leading ventilation company with operations in 44 countries in Europe, North- and South America, the Middle East, Asia and South Africa. The Company had sales of SEK 4 billion in financial 2011/12 and currently employs about 3,400 people. Systemair has reported an operating profit every year since 1974, when the Company was founded. During the past 15 years, the Company’s growth rate has averaged about 15 percent.

The completion of the transaction is subject to the approval of the cartel authorities