The Group was formed in December 2002 through a buy-out from Smiths Group plc of its air movement and cable management divisions. The Group subsequently changed ownership twice, with TowerBrook Capital Partners becoming our Controlling Shareholder in February 2012. Volution Group plc became a listed company with its shares traded on the premium segment of the Main Market of the London Stock Exchange (LSE: FAN) in June 2014. In October 2016, TowerBrook Capital Partners sold its outstanding shareholding by way of a Placing on the London Stock Exchange and no longer holds shares in Volution Group plc.
Since our formation, we have executed a strategy of rationalisation by disposing of our non-core operations (including Airstream Products Limited in May 2003 and our cable management division in January 2007) and have also expanded our core ventilation operations both within the UK and internationally. This includes acquiring:
Acquired UK-based Manrose
Fresh AB (SE)
Acquired Sweden-based Fresh AB
Acquired Sweden-based PAX
Acquired Germany-based inVENTer
Brüggemann Energiekonzepte (DE)
Acquired Germany-based Brüggemann Energiekonzepte
Providing new sales channels in Belgium, the Netherlands and France
Acquired Sweden-based Welair
Diffusion Group (UK)
Acquired UK-based Diffusion Group
National Ventilation and Airtech Environmental (UK)
Acquired UK-based National Ventilation and Airtech Environmental
Breathing Buildings (UK)
Acquired UK-based Breathing Buildings
VoltAir System AB (SE)
Acquired Sweden-based VoltAir System AB
Simx Limited (NZ)
Acquired New Zealand-based Simx Limited
AirFan B.V. (NL)
Acquired Netherlands-based AirFan B.V.
Oy Pamon Ab (FI)
Acquired Finland-based Oy Pamon Ab
Air Connection (DK)
Acquired Denmark-based Air Connection
Acquired Australia-based Ventair
Nordic Line (DK)
Acquired Denmark-based Nordic Line
Acquired Netherlands-based ClimaRad
We have also invested significantly both in improving our existing product offering and in developing new products. For example, the Ventilation Group first launched its heat recovery products in 1990. In 2008 the Group then launched a full “Lo-Carbon” range including upgraded and more efficient MEV and MVHR systems. In 2009, the Lo-Carbon range was extended to include decentralised MEV for the first time and the “Kinetic” range of high-efficiency MVHR units. The “Quiet” and “Silent” ranges followed in 2011 and 2012 respectively. Torin-Sifan launched its energy-saving EC/DC motors in 2004 and updated with integrated electronics in 2010. All such products have been upgraded several times since launch, and in 2015 we launched the world first app-controlled bathroom fan in Sweden.
In recent years, the Ventilation Group UK has also engaged in a successful “re-shoring” of the assembly of its products. Historically, a portion of the Ventilation Group UK products were assembled by third parties in China. Now, however, we assemble all our branded residential ventilation products at our production facilities.