Swedish ventilation equipment manufacturer Systemair has acquired Russian ventilation supplier Ventrade.
Ventrade markets products for ventilation and air conditioning and is one of Systemair's biggest customers in Russia. The company based in Moscow with sales offices and warehouses in 11 cities, had sales of around SEK 290 million (£29m) last year and currently has 200 employees.
Gerald Engström, CEO of Systemair, said: 'This acquisition gives us great opportunities to increase the proportion of Systemair products and we get a good coverage throughout Russia that gives us great growth potential.
He continued: 'The combination between ventilation and air conditioning provides expanded opportunities for larger air handling units. We also see good synergies with our production site in Lithuania where we currently are expanding our production capacity.'
