Systemair buys Canadian HVAC maker Temspec

Systemair completed its acquisition of Temspec Incorporated on July 23, 2026, adding a Canadian designer and manufacturer of decentralized HVAC equipment with a strong North American presence in schools and multi-storey buildings. The deal expands Systemair’s footprint in North America and deepens its position in ventilation solutions for educational facilities.

Why it matters: - Systemair is adding a Canadian HVAC specialist with a strong position in school and multi-storey building applications. - The acquisition expands Systemair’s North American operations and supports growth in ventilation solutions for schools. - Temspec’s focus on energy efficiency and noise reduction fits demand for quieter, lower-energy building systems.

What happened: - Systemair AB acquired Temspec Incorporated on July 23, 2026. - Temspec designs and manufactures decentralized HVAC equipment in Canada. - Temspec has its head office and manufacturing plant in Mississauga, Ontario. - Temspec employs about 90 people. - Systemair said Temspec will be integrated into its North American operations, which employ about 555 people.

The details: - Temspec began operations in 1971. - Temspec serves the North American HVAC market, with a strong position in multi-storey buildings and school applications. - Temspec reported about EUR 18 million in revenue in fiscal 24/25, or about CAD 29 million. - Temspec posted an EBIT margin above Systemair’s target in fiscal 24/25. - Systemair described Temspec’s culture as similar to its own, with a strong customer focus and entrepreneurial spirit. - Systemair operates in 51 countries across Europe, North America, the Middle East, Asia, Australia and Africa. - Systemair’s brands include Systemair, Frico, Fantech and Menerga. - In fiscal 2025/26, Systemair employed about 7,400 people and reported sales of SEK 12.5 billion. - Systemair has reported operating profit every year since 1974. - Systemair said average net sales growth over the past 10 years was 7.7% per year. - Systemair is listed on Nasdaq Stockholm’s Large Cap List.

Between the lines: - The deal gives Systemair a local manufacturing base and an established sales representative network in a market it already wants to deepen. - Temspec’s school-focused business is strategically important because Systemair’s CEO called the company the “undisputed leader” in ventilation solutions for schools. - The acquisition also brings a business with margin performance above Systemair’s target, which may matter for integration economics. - Temspec’s President Mark Ellison said the partnership should expand opportunities for employees and customers, including broader product offerings and stronger support.

What's next: - Temspec will be folded into Systemair’s North American operations. - Systemair expects the combination of complementary products and the sales network to create revenue growth opportunities. - Customers should see a broader product lineup as the integration moves forward.

The bottom line: - Systemair is using Temspec to strengthen its North American HVAC platform, especially in schools, while adding a profitable Canadian business with established local manufacturing.