A DUBLIN AIR conditioning firm has been acquired by a Swedish company that has thousands of workers around the globe.
Lindab International announced today that it has bought business AC Manufacturing Ltd. No financial details of the transaction were disclosed.
The Irish company is being sold by Shay Connolly, its chairman and managing director. Connolly will continue to work with Lindab following the sale.
Lindab said that AC Manufacturing is the largest maker of ventilation ducting in Ireland. The Dublin-based firm has a turnover of €6 million and employs about 40 people.
Lindab already employs more than 30 people in Ireland, and has a presence in Dublin and Cork. It said it is Ireland’s largest distributor of specialist ventilation equipment.
The firm mainly builds ventilation, heating and cooling systems.
“With the addition of AC Manufacturing, Lindab now offer the full range of ventilation products and systems in the Irish market, from ducting to air handling units,” it said in a statement.
Patrick Boland, the managing director of Lindab Ireland, said that the combined businesses of Lindab and AC Manufacturing “will further strengthen our ability to respond to the Irish market demands”.
He added: “We are particularly pleased to welcome Shay Connolly and his team into the Lindab family.”
Lindab had sales of just under €800 million in 2016. It has a presence in 32 countries and employs more than 5,000 people.
The company’s main market is non-residential construction, which accounts for 80% of its sales, while residential properties accounts for the remaining fifth of its sales.
AC Manufacturing was set up in 1999. The company made a relatively small loss of €165,000 in the year to the end of February 2017, however it made a profit of nearly half a million euro the year before that.
The business had accumulated profits of nearly €4 million at the end of February.