Systemair buys Canadian HVAC maker Temspec

Systemair said July 23 it completed the acquisition of Temspec Incorporated, a Canadian designer and manufacturer of decentralized HVAC equipment with a strong foothold in North American schools and multi-storey buildings. The deal expands Systemair’s North American footprint and adds a business with about EUR 18 million in annual revenue and margins above Systemair’s target.

Why it matters: - Systemair is adding a Canadian HVAC business with an established position in schools and multi-storey buildings across North America. - The deal strengthens Systemair’s North American operations and expands its lineup of ventilation solutions. - Systemair says the acquisition creates revenue-growth opportunities through complementary products and an established sales representative network.

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 headquartered in Mississauga, Ontario, where the company also operates its manufacturing plant. - Temspec employs about 90 people. - Systemair will integrate Temspec into its North American operations, which employ about 555 people.

The details: - Temspec began operations in 1971. - The company holds 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 reported revenue of about EUR 18 million, or roughly CAD 29 million. - Temspec posted an EBIT margin above Systemair’s target in fiscal 2024/25. - Systemair described Temspec’s corporate culture as similar to its own, with a strong customer focus and entrepreneurial spirit. - Robert Larsson, Systemair’s president and CEO, said the acquisition makes Systemair the undisputed leader in ventilation solutions for schools. - Mark Ellison, Temspec’s president, said the partnership gives employees new opportunities and gives customers expanded product offerings, more resources and stronger support.

Between the lines: - The transaction gives Systemair a more specialized North American platform at a time when school ventilation and indoor climate systems remain a clear niche in the broader HVAC market. - Temspec’s margin profile suggests the business adds both scale and profitability, not just revenue. - The fit appears to be as much cultural as operational, which can matter in integration-heavy industrial acquisitions.

What's next: - Temspec will move into Systemair’s North American business structure. - Systemair expects the combined product set and sales network to support growth after the closing. - The company is likely to focus on integrating Temspec’s team, manufacturing base and customer relationships into its regional operations.

The bottom line: - Systemair bought a profitable Canadian HVAC specialist to deepen its North American reach and strengthen its position in school ventilation.