Volution Holdings Limited Acquires Swedish Ventilation Manufacturer Fresh AB
Volution Group Limited announced today it has purchased 100% of the shares of Fresh AB a leading ventilation manufacturer based in Sweden. With a reported turnover of approximately 136 million SEK in 2011, Fresh AB holds a major share of the Swedish residential ventilation market as well as significant sales in Scandinavia as a whole.
Founded in Sweden in 1969, Fresh AB is one of Scandinavia's leading suppliers of residential ventilation products and systems. In addition to Scandinavia, Fresh AB supplies its own products to customers in some 25 other countries including USA, China, Germany, Japan, the Netherlands, Russia, Belgium and the Baltic States.
The European ventilation industry is expected to greatly benefit from the increasing demand for energy efficient ventilation products driven by future tightening of EU building legislation aimed at lowering carbon emissions. Both Volution Group and Fresh AB are leading innovators in energy saving low carbon products and systems. As such, the addition of Fresh AB to the Volution Group presents an ideal platform for future growth and consolidation within the highly fragmented European ventilation market.
"We are really excited about this and we believe in significant synergies between Volution and Fresh," says Peter Iburg Co-CEO of Fresh AB.
"This will take ventilation technology to new levels and we will be able to offer new, interesting ventilation solutions to existing and new potential customers in Scandinavia," says Patrik Dahlberg, also Co-CEO of Fresh AB.
"We are delighted to complete the purchase of Fresh AB. This important addition to the Volution Group extends our geographic coverage across continental Europe. Fresh AB is a very well respected ventilation brand in the Scandinavian market that boasts an innovative product portfolio. Both these factors complement Volution Group's existing market leading ventilation brands Vent-Axia and Manrose Manufacturing. Key to finalising the acquisition was securing the support of the previous owners and Co-CEOs Patrik Dahlberg and Peter Iburg. I am pleased to advise they have agreed to support Fresh AB joining the Volution Group and will oversee the transition," says Ronnie George, CEO of Volution Group.