Systemair AB (NASDAQ Stockholm: SYSR), a leading ventilation solutions provider, completed the acquisition of Temspec Incorporated, a Canadian HVAC equipment manufacturer, on July 23, 2026. The deal values Temspec at $21 million.
| Acquirer | Systemair (SE) |
|---|---|
| Target | Temspec Incorporated (CA) |
| Deal Value | $21m |
| Type of Deal | Acquisition |
| Date Announced | Not disclosed |
| Close Date | July 23, 2026 |
Temspec Incorporated is a designer and manufacturer of decentralized HVAC equipment in Canada. The company has been operating since 1971 with its headquarters and manufacturing plant located in Mississauga, Ontario. Temspec employs approximately 90 people and generated revenues of around EUR 18 million (CAD 29 million) in the fiscal year ending 2025.
Strategic Rationale
The acquisition strengthens Systemair's position in the North American HVAC market, particularly for school applications. With this move, Systemair aims to establish itself as a leader in ventilation solutions for educational institutions by integrating Temspec’s product range and distribution network into its existing operations.
Robert Larsson, President and CEO of Systemair, emphasized that the acquisition complements Systemair's products with Temspec's specialized offerings. He stated, "This partnership allows us to provide expanded product lines, greater resources, and enhanced customer support."
Financial Context
In its latest fiscal year ending 2025/26, Systemair reported sales of SEK 12.5 billion and employed approximately 7,400 people across 51 countries globally.
Temspec's financial performance aligns with Systemair’s strategic goals, as Temspec’s EBIT margin exceeded the acquirer's target margin.
Outlook
The acquisition of Temspec is expected to drive revenue growth for Systemair in North America. With a combined workforce of around 645 employees and an extended product portfolio, both companies anticipate significant opportunities for expansion within their respective markets.