Systemair buys Canada's Temspec to lead North American school ventilation
What's the deal? Swedish ventilation group SystemairDealroom has a profile for this one. Try Dealroom → (NASDAQ Stockholm: SYSR) has acquired Canadian HVAC maker Temspec Incorporated, effective July 23, 2026. Temspec designs decentralised HVAC equipment and holds a strong position in the North American market for multi-storey buildings and schools.
The numbers: Temspec posted revenues of about €18 million (roughly CAD 29 million) in fiscal year 24/25, with an EBIT margin above Systemair's target. The company employs around 90 people at its head office and plant in Mississauga, Ontario.
What's the endgame? Temspec will fold into Systemair's North American operations, which employ roughly 555 people. The move aims to widen Systemair's product range and tap Temspec's established network of sales representatives.
Why now? Temspec, founded in 1971, brings 55 years of experience and complementary products. Systemair says the fit extends to culture, citing a shared customer focus and entrepreneurial spirit.
"The acquisition of Temspec strengthens Systemair's position in the North American market, and makes us the undisputed leader in ventilation solutions for schools," said Robert Larsson, chief executive officer of Systemair. He added the deal opens "significant opportunities for revenue growth."
Mark Ellison, president of Temspec, said joining a larger organisation would give employees "new opportunities to grow" and customers "expanded product offerings, greater resources, and even stronger support."
The signal: The deal deepens consolidation in the HVAC sector as larger players buy specialists to broaden reach. For Systemair — a group with sales of SEK 12.5 billion and about 7,400 staff across 51 countries — a focused bolt-on in a high-margin niche reinforces a strategy of scaling through targeted acquisitions.
Read more: Cision
Image credit: SuperTech HVAC Services
