UK-based HVAC manufacturer Swegon has acquired air terminal specialist Waterloo Air Products as it pushes forward with its 'indoor environmental quality' strategy. The deal will give the company air terminal range and expertise in custom-building.
Hannu Saastamoinen, CEO of Swegon Group said: “The UK, as the second largest ventilation market in Europe, has long been a priority for Swegon with previous successful UK acquisitions contributing well to the overall growth and profitability of the group. This acquisition gives us a market leading position in grilles and diffusers, enhancing our ability to serve our customers with a full offering for high indoor environmental quality.”
He added that Kent-based Waterloo would be a good fit for Swegon, solidifying its "commitment to provide a range of full system solutions with superior customer service, as well as top quality custom room products”.
Founded in 1961, Waterloo employs 140 people and saw net sales of £12-million (€13.2-million) in 2019. The company manufactures a range of air handling products from grilles and diffusers to VAV options and chilled beams.
Waterloo managing director Russell Shenton said: “Becoming part of the Swegon Group will give us access to additional resources and provide the capability to accelerate our growth. Our product range is the perfect complement to Swegon’s overall offering and will allow both businesses to develop and grow”.
Speaking on behalf of the company’s previous owners, former director Ron Edmondson said: “We feel happy that Waterloo has found the best possible home to continue its development and that the customers and employees are in safe hands”.
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