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Systemair (NASDAQ OMX Stockholm: SYSR) has signed an agreement to acquire Reftec AS, a supplier of commercial cooling and heat pumps for the Norwegian market.

Reftec founded in 2007 is headquartered in Trondheim and has a sales office in Oslo with 14 employees all together. The company had a turnover of NOK 34 million in 2012, with sales growth of over 30%. The acquisition is subject to approval by the Norwegian Competition Authority. Closing is expected to occur during May.

"We are pleased to have succeeded in acquiring a young growing company that will strengthen our organization with expertise in commercial refrigeration. We also see synergies between ventilation and comfort cooling in project sales. Reftec has been distributor on the Norwegian market for Systemair cooling products." says Svein Nilsen, VP Marketing for Systemair.

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