Lindab repored that the company is extending its operations in the Stockholm region with the acquisition of Giroventilation AB. With the acquisition, Lindab strengthens both sales and production of rectangular ventilation ducts.
Girovent is based in Huddinge outside of Stockholm, Sweden. They have been well-established manufacturers of rectangular ventilation ducts since the 1980s. With new management, Girovent has shown strong growth in recent years. Lindab manufactures rectangular ventilation ducts in the region through Crenna, which Lindab acquired in 2020. Girovent will be able to take advantage of Crenna’s production facilities to scale up its operations.
“We are very pleased to welcome Girovent into Lindab”, says Ola Ringdahl, President and CEO of Lindab. “It is extra rewarding that we can build on Crenna’s operations and at the same time give Girovent the opportunity to grow further. We are also very pleased that Girovent’s Managing Director, Marcus Sundkvist, will continue to run the business as part of Lindab.”
“We look forward to being part of Lindab where we will be able to benefit from Lindab’s global purchasing and distribution network while contributing our knowledge and local presence. We share Lindab’s belief that high quality and close relationships with customers are important success factors”, says Marcus Sundkvist, Managing Director of Girovent.
Girovent has annual sales of approximately SEK 55 million and has an operating margin that is higher than Lindab’s operating margin in business area Ventilation Systems. Girovent has 31 employees. The acquisition is financed through own funds.
Read more about Girovent on their website: https://girovent.se/
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