Systemair has agreed to take over the assets of Swedish company Kryotherm AB.
Kryotherm supplies factory-made, all-in-one units for cooling, heating and air handling. Most products are based on the refrigeration process and all are developed and manufactured in Sweden for commercial properties such as offices, shops and supermarkets.
The company was founded in 1967 and is based in Piteå, a small town in the north of Sweden. In the last five years, the average turnover has amounted to about SEK 30 million (£2.9 million). However, in 2010 turnover decreased and the company made a loss.
Systemair, which has operations in 40 countries in Europe, will take over all assets from the company and its 12 employees.
Systemair's CEO Gerald Engström said: 'Kryotherm has products that complement our product range and give us more opportunities to deliver complete solutions in ventilation systems. They have great knowledge and long experience in the field of ventilation unit with integrated cooling or heat pump. We see synergies in both product development and sales.'
