Panasonic Corporation agreed to acquire the commercial air-conditioning business of Systemair AB at an enterprise value of 100 million Euros, purchasing all shares in Systemair S.r.l, Tecnair S.p.A, and related sales employees in Germany and France.

Francks Kylindustri acquired Kyl & Värmepumpservice i Halmstad AB, a family refrigeration and heat pump service business in Halmstad, Sweden with about SEK 50 million turnover and 14 employees. The former owners will continue to run the company. Announced November 24, 2021.

Assemblin acquired Örestadskyl, a refrigeration, freezing and heat pump company with offices in Malmö and Löddeköpinge, Sweden, with annual revenue of about SEK 30 million. The deal took effect immediately.

Mitsubishi Electric Europe B.V. acquired all shares of AQS Produkter AB, a Swedish distributor of comfort, process and IT cooling and heat pump products, on April 1, 2020. The deal strengthens Mitsubishi Electric's commercial business in Sweden.

Stiebel Eltron Group and Danfoss finalized an agreement for Stiebel Eltron to acquire Danfoss Värmepumpar AB (Thermia), with activities in Sweden, Finland and Norway. Thermia has annual turnover of about 650 million SEK and 210 employees.

Alfa Laval and Honeywell are reportedly bidding for Munters, a climate control maker owned by Nordic Capital, in a potential deal of 10 billion Swedish crowns, according to sources.