Systemair buys Canadian HVAC maker Temspec

Systemair has acquired Temspec Incorporated, a Canadian maker of decentralized HVAC equipment with a strong foothold in schools and multi-storey buildings. The deal, completed July 23, expands Systemair’s North American reach and adds a business with about EUR 18 million in annual revenue.

Why it matters: - Systemair is adding a niche HVAC business with established strength in school and multi-storey building applications. - The deal expands Systemair’s North American footprint and brings in complementary products and a sales representative network. - Systemair expects the acquisition to support revenue growth and strengthen its position in ventilation solutions for schools.

What happened: - Systemair AB acquired Temspec Incorporated on July 23, 2026. - Temspec designs and manufactures decentralized HVAC equipment in Canada. - Temspec’s head office and manufacturing plant are in Mississauga, Ontario. - 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 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 had revenue of about EUR 18 million, or about CAD 29 million. - Temspec reported an EBIT margin above Systemair’s target. - Systemair said Temspec’s corporate culture is similar to its own, with a strong customer focus and entrepreneurial spirit. - Robert Larsson, Systemair’s president and CEO, said the acquisition strengthens Systemair’s North American market position and makes the company the undisputed leader in ventilation solutions for schools. - Larsson said the combined business sees significant opportunities for revenue growth. - Mark Ellison, Temspec’s president, said the deal creates opportunities for employees and manufacturer’s representatives. - Ellison said Temspec customers will benefit from expanded product offerings, greater resources and stronger support.

Between the lines: - The acquisition fits Systemair’s broader push in North America, where school ventilation appears to be a targeted growth category. - Temspec’s profitability and specialization suggest Systemair is buying both technical capability and an established sales channel. - The deal also looks designed to deepen Systemair’s reach without starting from scratch in a specialized market.

What's next: - Temspec will operate within Systemair’s North American business. - Systemair is likely to use Temspec’s product line and representative network to broaden sales in the region. - The companies did not disclose the purchase price or integration timeline beyond the immediate completion date.

The bottom line: - Systemair gained a profitable Canadian HVAC specialist that adds scale, product depth and a stronger position in schools.