Towerbrook acquires UK ventilation product maker, Volution, from AAC Capital
Lansdowne Capital has advised private equity house Towerbrook Capital Partners on the acquisition of UK ventilation product maker, Volution, from AAC Capital UK. AAC Capital UK had bought the business in July 2006, via a secondary buy-out, from Montagu Private Equity.
Volution achieved an EBITDA of £18m. on sales of £82m, in the year ended 31 July 2010 and an EBITDA of £22m. on sales of £92m. for the financial year to July 2011.
Vent-Axia, the Company's principal brand, was founded in 1936 and Volution Group Limited was formed in 2002. The Company's broad product range includes residential, commercial and industrial electrical fans and systems and other ventilation-related products. Volution's market share is supported by its best-in-class sales force and comprehensive coverage of its distribution channels.
The European ventilation industry is expected to greatly benefit from growing demand for ventilation products driven by the future tightening of building regulations. Volution is a leading innovator in energy-saving, low-carbon products and systems. As such, Volution presents an ideal platform for future growth and consolidation within the highly fragmented European ventilation market.
Ronnie George, Volution CEO, commented:
"This is a fantastic opportunity for Volution as we seek to create the next phase of growth for our company. We are proud of our market share in the UK and of our well regarded brands and we look towards TowerBrook to help us in broadening this in the UK and internationally in order to achieve the full growth potential of our Company. TowerBrook clearly understand and value our operation and we are excited to work together as partners."
Patrick Smulders, TowerBrook Managing Director, said:
"We are very much looking forward to partnering with Volution as we seek to capitalize on their superior sector experience. Volution is a leader in its market segment and has a strong management team. We believe the company has tremendous capacity to grow and we look forward to working with Ronnie George and his team over the coming years."
For further information, please contact:
| Orla Dargan | +44 20 7514 1800 |
