Systemair buys Canadian HVAC maker Temspec

Systemair has completed its acquisition of Temspec Incorporated, a Canadian designer and manufacturer of decentralized HVAC equipment with a strong foothold in schools and multi-storey buildings. The deal expands Systemair’s North American footprint and adds a business that posted about EUR 18 million in revenue in fiscal 2024/25.

Why it matters: - Systemair is adding a Canadian HVAC specialist with established strength in school and multi-storey building applications. - The deal expands Systemair’s North American operations and supports its push in ventilation solutions for schools. - Temspec brings complementary products, a representative network and a business that already meets Systemair’s profitability target.

What happened: - Systemair AB completed its acquisition of Temspec Incorporated on July 23, 2026. - Temspec designs and manufactures decentralized HVAC equipment in Canada. - Temspec is based in Mississauga, Ontario, where the company’s head office and manufacturing plant are located. - Temspec employs about 90 people. - Systemair said Temspec will be integrated into its North American operations. - Systemair’s North American business employs about 555 people.

The details: - Temspec began operations in 1971. - The company has a strong position in the North American HVAC market for multi-storey buildings and school applications. - Temspec focuses on energy efficiency and noise reduction. - In fiscal 2024/25, Temspec generated about EUR 18 million in revenue, or about CAD 29 million. - Temspec’s EBIT margin was above Systemair’s target. - Systemair described the corporate culture as similar to its own, with customer focus and an entrepreneurial spirit. - Systemair said the acquisition strengthens its position in the North American market and makes it the undisputed leader in ventilation solutions for schools. - Systemair said it sees significant revenue growth opportunities from complementary products and an established sales representative network.

Between the lines: - The acquisition looks designed to deepen Systemair’s reach in a specific niche rather than make a broad, general-purpose expansion. - Temspec’s school-focused positioning may give Systemair a stronger sales story in public-building ventilation, where comfort, efficiency and low noise matter. - The similar culture and representative network suggest Systemair is aiming for a relatively smooth integration.

What's next: - Temspec will be folded into Systemair’s North American operations. - Systemair said the combined business creates opportunities for revenue growth. - Temspec’s employees and customer base are expected to gain access to broader product offerings, more resources and stronger support.