What Lindab Group does

Lindab Group is a Stockholm-listed European ventilation company, founded in 1959 and headquartered in Grevie/Båstad, Sweden. It operates two business areas: Ventilation Systems (air distribution, room ventilation, and climate control products, approximately 75-80% of sales) and Profile Systems (roof, wall, and rainwater solutions primarily for Scandinavian markets). The company serves construction and renovation customers across the building industry, addressing demand for energy efficiency, indoor air quality, and sustainability certifications such as LEED and BREEAM.

The company is vertically integrated across the entire value chain—from machine manufacturing (own brand Spiro for circular duct machines, and the acquired Firmac and Vicon brands for rectangular duct machinery) through duct production to distribution. It also markets decentralised ventilation products (acquired via Airmaster A/S, featuring integrated heat pumps) and sustainable product lines including ventilation ducts made from recycled steel (75% recycled content, 62% lower climate impact) and the world's first fossil-free steel ventilation ducts, produced under the SSAB HYBRIT hydrogen-based steel partnership. Lindab owns and operates approximately 180 locations across 19 countries with about 5,000 employees.

Lindab's business model is built on B2B industrial hardware sales, distributed primarily through direct sales via local country subsidiaries complemented by distributor relationships in select markets (e.g., Lithuania, Netherlands). It recorded net sales of SEK 12,854 million in 2025, split approximately 45% Western Europe, 41% Nordic, 10% Central Europe, and 4% Other. The company pursues an aggressive M&A strategy (22+ acquisitions since 2020) combined with targeted divestments—most recently exiting Profile Systems operations in Eastern Europe (Slovakia, Hungary, Romania) to refocus on core ventilation and Scandinavian profile businesses. Management's long-term financial target is SEK 20 billion in sales by 2027 with at least 10% operating margin.

Name

Lindab Group

Legal name

Lindab International AB

Website

https://lindabgroup.com

Company type

Public

Founded year

1959

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Building Ventilation Systems

NAICS

Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341), Industrial and Commercial Fan and Blower and Air Purification Equipment Manufacturing (333413), Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Warm Air Heating and Air-Conditioning Equipment and Supplies Merchant Wholesalers (42373)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Industrial & Commercial Fans & Blowers & Air Purifing Equip (3564), Steam & Air-Conditioning Supply (4961), Wholesale-Hardware & Plumbing & Heating Equipment & Supplies (5070)

akta.pro primary industry

HVAC, Water Heaters & Indoor Air Quality Distribution (CRAOAFAJ)

Keywords

• Ventilation systems
• Building products
• Air distribution
• HVAC ductwork
• Roofing solutions

Headquarters

HQ city

Grevie

HQ country

Sweden

HQ region

Europe

Offices22 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Ventilation Systems Products: Core business providing complete ventilation solutions including air distribution, room ventilation, and related products. Products characterized by high quality, ease of installation and reliable delivery.
2. Profile Systems Products: Roof, wall and rainwater drainage solutions for Scandinavian markets. Includes sandwich panels and building products.
3. Decentralised Ventilation: New product area established through Airmaster acquisition, offering standalone ventilation units with integrated climate control for renovation projects.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Lindab Group manufactures and sells complete ventilation systems including air distribution ducts (circular, oval, rectangular), decentralised ventilation units with integrated heat pumps, and duct manufacturing machinery (Spiro, Firmac, Vicon brands). The company also produces Profile Systems - roof, wall, and rainwater drainage solutions primarily for Scandinavian markets. Products are sold B2B through direct sales subsidiaries and distributor networks in 19 countries, serving the construction industry, real estate developers, and ventilation installers.

Product overview

Lindab Group operates as a leading European ventilation company with two core business areas: Ventilation Systems (approximately 75-80% of sales) and Profile Systems (roof, wall and rainwater systems primarily in Scandinavia). The Ventilation Systems business encompasses air distribution and diffusion products, including circular, oval and rectangular ventilation ducts manufactured through own production and machine divisions (Spiro, Firmac, Vicon). The company has expanded into decentralised ventilation through the acquisition of Airmaster, which offers products with integrated heat pumps. Lindab also offers sustainable product lines including ventilation ducts made from recycled steel (62% lower climate impact) and fossil-free steel from SSAB. Profile Systems provides roof, wall and rainwater solutions for Scandinavian markets. The company operates in approximately 18-19 countries with about 5,000 employees and recorded sales of SEK 12,854 million in 2025.

Differentiator

Problem solved

Functional benefit

Products and services

• Ventilation Systems Complete energy-efficient ventilation solutions for healthy indoor climate, including air distribution and diffusion products, rectangular and circular ventilation ducts, and decentralised ventilation systems. Sold to construction companies, real estate developers, and ventilation installers across Europe.
• Profile Systems Roof, wall, and rainwater drainage solutions primarily for Scandinavian markets, including sandwich panels and building envelope products. Provides weather protection and energy efficiency for buildings.
• Spiro duct manufacturing machines Machine manufacturing brand for production of circular ventilation ducts, one of Europe's leaders in duct-making machinery, sold to duct fabricators and ventilation manufacturers across Europe and globally.
• Firmac duct manufacturing machines European leader in machines for manufacturing rectangular ventilation ducts, acquired by Lindab in 2023 and exporting to approximately 50 countries. Sold to duct fabricators and ventilation manufacturers.
• Vicon duct manufacturing machines Leading US manufacturer of rectangular ventilation duct machinery, based in Bohemia, NY. Acquisition by Lindab in January 2024 more than tripled the Group's US sales. Sold to duct fabricators across North America.
• Airmaster decentralised ventilation units Danish manufacturer of decentralised ventilation products with integrated heat pump technology (AMX product for cooling and heating). Established 1991, serves Germany, Denmark, Benelux, Norway, and France. Particularly suited to renovation projects where central ducting is impractical.
• Fossil-free steel ventilation products Ventilation ducts and building construction products made from SSAB's fossil-free steel using HYBRIT hydrogen-based steelmaking technology. First ventilation company worldwide to offer these products. Available to construction projects seeking maximum climate impact reduction.
• Recycled steel ventilation products Ventilation ducts manufactured from recycled steel containing 75% recycled material, achieving 62% lower climate impact compared to traditional steel products. Available as part of Lindab's standard product range for construction and renovation projects.
• SolarRoof Roof product with integrated solar cells made from fossil-free steel, offered as part of Lindab's sustainable building solutions portfolio for Scandinavian markets.
• Ventilation ducts (circular, oval, rectangular) Core ventilation distribution products in circular, oval, and rectangular form factors for air distribution and diffusion in residential and commercial buildings. Sold to construction firms and ventilation installers.

Quantifiable outcome

• 62% lower climate impact with recycled steel products (75% recycled material)
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered minor and core.

• ROVA Group (Marián Kapusta Sr. and Jr.)minorChannel Partner/ Reseller/ Distributor · 17 June 2026Acquirers of divested Romanian operations. Previously acquired Slovak business and Profile Systems' business in Hungary. The company will serve as both distributor and licensed manufacturer for Lindab Group products.
• VecturacoreStrategic or Co-development Partner · 22 January 2024Real estate developer managing the Lund, Sweden construction project targeting LEED Gold certification where Lindab delivers world's first ventilation ducts in fossil-free steel.
• SkanskacoreStrategic or Co-development Partner · 22 January 2024Construction company handling building of the Lund, Sweden project where Lindab's fossil-free steel ventilation ducts are installed. Project demonstrates innovation and sustainability leadership.
• K VentminorChannel Partner/ Reseller/ Distributor · 22 January 2024Ventilation installation company responsible for installing the fossil-free ventilation ducts and other ventilation products in the Lund project.
• SSAB (HYBRIT)coreStrategic or Co-development Partner · 20 June 2023SSAB partnership for fossil-free steel supply through HYBRIT technology (collaboration between SSAB, LKAB and Vattenfall). Lindab receives test deliveries of fossil-free steel and participates as volume guarantor to make fossil-free product projects viable.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Carrier Global Corporation: US-listed global HVAC, refrigeration, and building automation leader. Overlaps with Lindab in commercial air handling, ventilation ducts, and building climate control solutions across global markets.
• Trane Technologies: Global US-listed HVAC and building climate solutions giant serving commercial and residential markets. Competes with Lindab in commercial ventilation and energy-efficient building equipment broadly.
• Daikin Industries Ltd. Global Japanese HVAC giant dominating air conditioning, refrigeration, and increasingly ventilation products. Represents the competitive ceiling for premium HVAC manufacturers pursuing sustainability leadership.
• NIBE Industrier AB: Swedish-listed leader in sustainable heating and ventilation technology, with a broader product portfolio including heat pumps, stoves, and building systems. Comparable as a Swedish sustainability champion serving the European building climate market.
• Bosch Thermotechnology: Division of Bosch providing heating, hot water, and increasingly ventilation solutions across Europe. Competes most directly with Lindab in German and Central European markets through HVAC distribution channels.

Direct peers

• Swegon Group AB: Privately held Swedish ventilation company (owned by Latour) and one of Lindab's closest direct competitors in indoor climate solutions, including air handling units, ventilation ducts, and decentralised ventilation products across Europe.
• Systemair AB: Swedish-listed ventilation company with a similar European footprint, producing fans, air handling units, and duct systems for commercial and residential buildings. Headquartered in Skinnskatteberg, Sweden, with comparable manufacturing and distribution model.
• Aldes Group: French privately-held ventilation and indoor air quality specialist offering air handling units, ductwork, and decentralised ventilation. Direct competitor in Western European markets with similar product scope and B2B distribution model.
• Volution Group plc: UK-listed ventilation manufacturer with brands like Vents, Airtech, and Vent-Axia, directly competing with Lindab in residential and commercial ventilation, including decentralised solutions and air distribution products.
• Zehnder Group AG: Swiss-listed manufacturer of indoor climate solutions including ventilation, heat recovery, and radiators, with strong European presence and comparable focus on energy-efficient healthy indoor environments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/lindab-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lindab Group