Investment AB Latour acquires, through Swegon AB, Vibro-Acoustics® with immediate access. Vibro-Acoustics® is a leading provider of Noise and Vibration control solutions in HVAC systems in North America.
Vibro-Acoustics® was founded in 1960. They employ 167 staff and, in 2013, recorded a turnover of $28 MCAD, corresponding to about SEK 170 m. The Vibro-Acoustics® headquarters is in Toronto, Canada, with two additional manufacturing facilities in the Unites States - Reno, Nevada and Nashville, Tennessee.
“The North American HVAC market is extensive and so far we have only had a limited presence there. As we now expand our business, we are very pleased to do it together with Vibro-Acoustics®. They are a well-managed company with a long and successful history. Also, their strong focus on delivering high quality system solutions fits well with Swegon’s market approach. Vibro-Acoustics® is well established in the North American market and has a widely developed network of Sales Representatives. We see many positive opportunities for our joint future business development” says Hannu Saastamoinen, CEO of Swegon.
The acquisition implies a long-term effort to take a significant position in the North American market by Swegon. The next few years will require significant resources in areas such as marketing and product development. The efforts shall be considered as investments for the future.
Göteborg, June 4, 2014
Investment AB Latour (publ)
Jan Svensson, CEO
For further information please contact:
Hannu Saastamoinen, CEO Swegon, +46 31 89 58 10
Andreas Örje Wellstam, VP BA Residential and M&A Swegon +46 31 89 58 17
Swegon AB is a company in the Latour group and manufactures and sells products and solutions for ventilation and indoor climate systems. The Swegon company group has 1450 employees and the turnover SEK 3.2 billion.
Investment AB Latour is a mixed investment company consisting of an investment portfolio with a market value of about SEK 26 billion and wholly owned industrial operations with total net sales of about SEK 7 billion.