Volution Acquires Brüggemann Energiekonzepte GmbH
Extending our sales network in Northern Germany
Volution Group plc (“Volution” or “the Group” or “the Company”, LSE: FAN), a leading supplier of ventilation products to the residential construction market, today announces that it has completed the transaction to acquire 100% of the shares in Brüggemann Energiekonzepte GmbH (“Brüggemann”), a leading supplier of decentralised heat recovery ventilation in the Northern area of Germany.
Brüggemann has an extensive list of and long term relationships with, installers and end user customers in the Hamburg and surrounding area of Germany. The acquisition of Brüggemann is expected to grow Group revenues by approximately €2 million p.a.
Commenting on this acquisition, Ronnie George, Chief Executive Officer, said:
“We are delighted to have completed the transaction to acquire Brüggemann. This addition to our ventilation operations will significantly extend our coverage in the Northern area of Germany around Hamburg. Decentralised heat recovery ventilation is an attractive market in Germany and we are pleased to bring this extra experience and knowledge into the Group to assist us with our plans for growth.”
Volution Group plc
Ronnie George, Chief Executive Officer
+44 (0) 1293 441501
Ian Dew, Chief Financial Officer
+44 (0) 1293 441536
Craig Breheny, Simone Selzer, Chris Buscombe
+44 (0) 20 7404 5959
Note to Editors
Volution Group plc (LSE: FAN) is a leading supplier of ventilation products to the residential construction market in the UK, Sweden and Germany.
The Group sold approximately 11 million ventilation products and accessories in the six months ended 31 January 2015. It consists of five key brands, focused primarily on the UK, Swedish and German ventilation markets - Vent-Axia, Manrose, Fresh, PAX and inVENTer - and operates through two divisions: the Ventilation Group, which principally supplies ventilation products for residential construction applications in the UK, Sweden and Germany and ventilation products for commercial construction applications in the UK; and OEM (Torin-Sifan), which supplies motors, fans and blowers to OEMs of heating and ventilation products for both residential and commercial construction applications in Europe.
For more information, please go to: http://www.volutiongroupplc.com/
Cautionary statement regarding forward-looking statements
Certain statements made in this announcement may be forward-looking statements. Such statements are based on current expectations and assumptions and are subject to a number of known and unknown risks and uncertainties that may cause actual events or results to differ materially from any expected future events or results expressed or implied in these forward-looking statements. Persons receiving this announcement should not place undue reliance on forward-looking statements. Unless otherwise required by applicable law, regulation or accounting standard, the Group does not undertake to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.