Japanese manufacturer Panasonic has announced that its Heating & Ventilation A/C Company intends to acquire the commercial air-conditioning business of Systemair, a Swedish manufacturer of HVAC systems, according to a statement issued yesterday by Panasonic.
Systemair’s commercial air-conditioning business consists of chillers, heat pumps, air conditioners and fan coil units, and it includes its propane (R290)-based SYSAQUA BLUE chiller and heat pump systems. A large focus of its business are waterloop systems that require less refrigerant.
Panasonic has said that this acquisition will enhance its commercial air-conditioning offering in Europe, which is a key market for the company, while also expanding its business in the water- and space-heating sector.
“By combining Systemair’s commercial air-conditioning technologies and our inverter and energy-saving technologies, we will accelerate to provide high-value added solutions required by our customers,” said Masaharu Michiura, President of Panasonic’s Heating & Ventilation A/C Company.
Acquisition of multiple brands
As part of the deal, Panasonic intends to purchase a number of Systemair’s brands, including Systemair S.r.l., an Italian manufacturer and seller of air- and water-cooled chillers and heat pumps, as well as rooftop and other commercial air conditioners.
According to Panasonic’s statement, it also intends to purchase the air-conditioning business of Systemair’s German entity and “the transfer of sales employees from Systemair GmbH is subject to HR consultations.”
In addition, Panasonic “has offered to acquire all outstanding shares in Systemair AC SAS,” which manufactures and sells commercial HVAC systems in France. Panasonic expects its offer to be accepted following further consultation.
Once the “necessary procedures” are completed, the acquired entities will be operated as consolidated subsidiaries under the Panasonic brand.
“We made the decision to sell the air conditioner business in Italy and Germany and intend to sell the air conditioner business in France because we are confident that focusing on our core business [of] ventilation will strengthen our offering to our customers and is in line with our strategy,” said Roland Kasper, President and CEO of Systemair.
“We are very pleased to be able to continue to support our current and future customers on an ongoing basis by signing a long-term agreement with Panasonic for the supply of commercial air conditioners and further strengthening our partnership,” he added.
New structures for commercial AC
In purchasing these three companies from Systemair, Panasonic says that it will establish new development, production, sales and maintenance structures for its commercial air-conditioning business. It will also create “higher-value added solutions” for water and space heating “by combining the resources owned by the two companies.”
The acquisition will also help the Japanese manufacturer “respond to wide-ranging customer needs” by expanding its “environmentally friendly” product offerings, it said.
Panasonic recently announced its new Aquarea L Series R290 residential air-to-water heat pump, which will be released in Europe by early April 2023.
“In Europe, there is strong interest in environmental protection and measures to address climate change, and efforts are being made for the transition to a carbon-free society,” explained Panasonic. “In addition to the growing demand for energy-efficient and other eco-friendly products, the Kigali Amendment to the Montreal Protocol and Europe’s F-gas Regulation require a shift to refrigerants with less greenhouse effect.”
“By combining Systemair’s commercial air-conditioning technologies and our inverter and energy-saving technologies, we will accelerate to provide high-value added solutions required by our customers,”Masaharu Michiura, President of Panasonic’s Heating & Ventilation A/C Company.