Lindab completes the acquisition of Airmaster

On 19 January, Lindab announced the acquisition of Airmaster, a leading European company in decentralised ventilation. The acquisition was subject to approval by the competition authorities, which has been received. Lindab has today completed the acquisition and Airmaster will be part of Lindab from 1 March.

Airmaster is a fast-growing Danish manufacturer of products for decentralised ventilation. The most important markets today are Germany, Denmark, Benelux, Norway and France. The company had sales of 356 MDKK in 2022 with an operating margin of 18 percent. Airmaster has achieved an average sales growth exceeding 10 percent per annum since 2015. Airmaster has direct sales in Denmark, Benelux and Norway and sells mainly through distributors in other markets. The company has its head office, R&D department and production in Aars on Jutland in Denmark and has approximately 200 employees.

With the acquisition, Lindab establishes a new product area within the Group, with the ambition that decentralised ventilation will reach sales of SEK 2 billion by 2027. Decentralised ventilation is an energy-efficient way to ventilate buildings, especially suitable for renovation projects. By installing fresh air ventilation in each room, there is no need for ventilation ducts or a central system. The technology is particularly suitable in properties where ducting can be difficult, such as in older buildings, or where only part of the building is being renovated. Airmaster's new AMX product is also equipped with an integrated heat pump that enables both cooling and heating for optimal indoor comfort.

Read more about Airmaster on their website: https://www.airmaster-as.com/