France Air Management completed the acquisition of the Air Handling division of SIG for $244m.

France Air Management, which designs and distributes air handling, ventilation, heating and domestic hot water systems, completed the acquisition of the Air Handling division of SIG, a British-based international supplier of insulation, roofing, commercial interiors and specialist construction products, for $244m. SIG's integrated Air Handling division is the largest distribution-led specialist provider of air handling products and solutions in Europe. "We believe that the proposed sale of our Air Handling Division represents an attractive value for SIG's shareholders. The Disposal is a result of continuing management actions in line with stated priorities to reduce financial leverage, to simplify the Group's operations by exiting from non-core businesses and to deliver significantly improved operational and financial performance. The Disposal enables SIG to become a more focused business, with leading positions and attractive medium-term growth prospects in its core markets, a strengthened balance sheet and the flexibility to pursue further value-creating investment opportunities," Meinie Oldersma, SIG Chief Executive Officer.