Systemair buys Canadian HVAC maker Temspec

Systemair has acquired Temspec Incorporated, a Canadian designer and manufacturer of decentralised HVAC equipment with a strong position in school and multi-storey building applications. The deal expands Systemair’s North American footprint and adds a business that reported about EUR 18 million in fiscal 2024/25 revenue.

Why it matters: - Systemair gains a stronger position in North America, especially in ventilation solutions for schools. - Temspec adds complementary products, a representative network and a business focused on energy efficiency and noise reduction. - The acquisition gives Systemair access to a profitable HVAC business with established scale in Canada.

What happened: - Systemair AB completed its acquisition of Temspec Incorporated on July 23, 2026. - Temspec is a Canadian designer and manufacturer of decentralised HVAC equipment. - Temspec is based in Mississauga, Ontario, where the company’s head office and manufacturing plant are located. - Temspec began operations in 1971 and employs about 90 people. - Systemair said Temspec will be integrated into Systemair’s North American operations, which employ about 555 people.

The details: - Temspec has a strong position in the North American HVAC market for multi-storey buildings and school applications. - Temspec’s products are designed around energy efficiency and noise reduction. - In fiscal 2024/25, Temspec generated about EUR 18 million, or roughly CAD 29 million, in revenue. - Temspec posted an EBIT margin above Systemair’s target in the same fiscal year. - Systemair described Temspec’s corporate culture as similar to its own, with a strong customer focus and entrepreneurial spirit. - Temspec’s president, Mark Ellison, said the deal should create new opportunities for employees and provide customers with expanded product offerings, greater resources and stronger support. - Systemair CEO Robert Larsson said the acquisition strengthens the company’s North American position and creates revenue growth opportunities.

Between the lines: - The purchase looks aimed at deepening Systemair’s school-focused ventilation business, a niche where Temspec already has credibility. - Temspec’s established sales representative network could help Systemair push products faster through the region. - The transaction also signals Systemair’s preference for bolt-on deals that add local expertise rather than rebuild operations from scratch.

What's next: - Temspec will be folded into Systemair’s North American business. - Systemair is expecting cross-selling opportunities from the combination of complementary products and distribution relationships. - The company’s leadership sees room for revenue growth after the integration.

The bottom line: - Systemair bought a profitable Canadian HVAC specialist that strengthens its North American school and multi-storey building business.