Investment AB Latour übernimmt P. Lemmens von Waterland Private Equity
Investment AB Latour has through its business area Swegon AB signed an agreement to acquire 90 percent of the shares in P. Lemmens, a leading Belgian air handling unit manufacturer, from existing shareholders Waterland Private Equity and Stephan Lemmens. The transfer will take place on July 8th, 2014.
With headquarters in Gembloux, Belgium, P. Lemmens’ largest product area is compact air handling units with built-in controls. The product range also includes fans, air curtains and products for heat recovery. The company reported a turnover of 26 MEUR in 2013 and has 59 staff.
“We are delighted to welcome P. Lemmens as the latest member in the Swegon family”, says Hannu Saastamoinen, CEO Swegon. “Lemmens is a fantastic company that has been managed very successfully over the years. This acquisition makes Swegon the clear market leader in compact air handling units in Europe. With their strong product range Lemmens will complement Swegon’s well-known GOLD air handling unit range extremely well when it comes to lower air volumes. Through this acquisition we also continue to strengthen our market position in Continental Europe”.
P. Lemmens will remain as a separate entity and will continue to develop its own business together with its current partner network. Stephan Lemmens will continue as a minority shareholder and Managing Director of the company.
“The cooperation with Waterland has during the years been very positive and has had great impact on the development of our business. We now look forward to continue this journey together with Swegon. They will provide us with a very strong platform from which we can further develop our product range and also serve current and new customers even better in the future.” says Stephan Lemmens, MD P. Lemmens.