European ventilation company Lindab has announced the acquisition of Ventilace EU, a manufacturer of rectangular ventilation ducts in the Czech Republic.
The acquisition marks the company’s first Czech acquisition and expansion of its operations in the country.
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It will allow Lindab to improve the sales and manufacturing of rectangular ventilation ducts.
Lindab CEO and president Ola Ringdahl said: “We are very pleased to welcome Ventilace EU, our first Czech acquisition, into Lindab Group.
“We have had good relations since before and look forward to further developing the business together. We are also happy that Ventilace EU’s co-owner and managing director, Jiří Chvátal, will continue to run the business as part of Lindab.”
Ventilace EU and Lindab have already worked together, with the former providing support during periods of peak production at Lindab’s main production site in the Czech Republic.
Ventilace EU managing director Jiří Chvátal said: “We look forward to being part of Lindab and strengthening the operations in the Czech Republic. We contribute with knowledge of rectangular ventilation ducts and with well-established customer relations, while, at the same time, benefiting from the competence Lindab’s central production facility in the Czech Republic. Together, we will be stronger than each company on its own.”
Ventilace EU records annual sales of Skr42m ($4m) and a smaller operating profit for its ventilation systems business line compared to Lindab.
The acquisition will be financed using Lindab’s own cash, and the transaction is expected to close in June.
