Volution Group plc Acquisition (3886K)
April 16 2015 - 1:00AM
UK Regulatory
TIDMFAN
RNS Number : 3886K
Volution Group plc
16 April 2015
Thursday 16(th) April 2015
VOLUTION GROUP PLC
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 EUR2 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."
-Ends-
Enquiries:
Volution Group plc
Ronnie George, Chief Executive Officer +44 (0) 1293 441501
Ian Dew, Chief Financial Officer +44 (0) 1293 441536
Brunswick +44 (0) 20 7404 5959
volution@brunswickgroup.com
Craig Breheny, Simone Selzer, Chris Buscombe
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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