Systemair buys Canadian HVAC maker Temspec

Systemair has acquired Temspec Incorporated, a Canadian maker of decentralised HVAC equipment with a strong North American position in schools and multi-storey buildings. The deal adds about 90 employees and expands Systemair’s reach in ventilation solutions for education markets.

Why it matters: - Systemair strengthens its North American footprint with a Canadian business that has a long operating history, a focused product niche and an established sales representative network. - The acquisition adds scale in school ventilation, a segment Systemair says it now leads more decisively. - Temspec’s focus on energy efficiency and noise reduction aligns with demand for quieter, lower-energy HVAC systems in education and commercial buildings.

What happened: - Systemair AB acquired Temspec Incorporated on July 23, 2026. - Temspec designs and manufactures decentralised HVAC equipment in Canada. - The company has a strong position in the North American HVAC market for multi-storey buildings and school applications. - Temspec’s head office and manufacturing plant are in Mississauga, Ontario. - Temspec employs about 90 people. - Temspec will be integrated into Systemair’s North American operations, which employ about 555 people.

The details: - Temspec began operations in 1971. - In fiscal 2024/25, Temspec generated about EUR 18 million in revenue, or roughly CAD 29 million. - Temspec posted an EBIT margin above Systemair’s target in that fiscal year. - The company’s corporate culture is described as closely aligned with Systemair’s, with customer focus and an entrepreneurial spirit. - Systemair said the deal gives it complementary products and an established sales representative network. - Robert Larsson, Systemair’s president and CEO, said the acquisition strengthens Systemair’s position in North America and creates significant revenue growth opportunities. - Mark Ellison, Temspec’s president, said the partnership should create new opportunities for employees and expand product offerings and support for customers.

Between the lines: - The deal looks built around specialization rather than broad consolidation. Temspec brings a niche product set and market access that can plug into Systemair’s larger distribution and brand portfolio. - School ventilation appears to be a strategic priority. Systemair’s framing suggests the acquisition is as much about category leadership as it is about adding revenue. - Temspec’s margin profile matters. An EBIT margin above target implies the business may be accretive on profitability as well as market share.

What's next: - Systemair will fold Temspec into its North American operations and use the combined platform to pursue growth in schools and related building segments. - Temspec employees are expected to gain access to broader career paths inside a larger organization. - Customers are expected to see a wider product range, more resources and stronger support after the integration. - Systemair’s management is likely to lean on Temspec’s representative network to extend sales reach across North America.

The bottom line: - Systemair bought a profitable Canadian niche player to deepen its North American HVAC presence and push harder into school ventilation.