Admission to Trading on the London Stock Exchange 23 June 2014

Volution Group plc is a leading supplier of ventilation products with primary markets in the UK and Northern Europe. We aim for our products to enhance customers' experience of ventilation by reducing energy, improving design and making them easier to use.
We operate through two divisions: the Ventilation Group, which primarily supplies ventilation products for residential construction applications in the UK, Sweden, Norway and Germany and ventilation products for commercial construction applications in the UK; and Torin-Sifan, which supplies motors, fans and blowers to OEMs of heating and ventilation products for both residential and commercial construction applications in Europe.

http://www.volutiongroupplc.com/home

11 Oct
Canaccord...
205.00
Buy

11 Oct
Numis
184.00
Hold

11 Oct
Liberum Capital
200.00
Buy

Acquisition of Breathing Buildings Ltd
RNS
RNS Number : 1696S
Volution Group plc
19 December 2016
 
 
Monday 19 December 2016
 
VOLUTION GROUP PLC
ACQUISITION OF BREATHING BUILDINGS LIMITED
 Widening Volution's capability with a leader in natural and hybrid ventilation
for commercial buildings
 
Volution Group plc ("Volution" or "Group", LSE: FAN) a leading supplier of ventilation products to the residential and commercial construction markets, announces that, in line with its strategy, it has acquired the entire share capital of Breathing Buildings Limited ("Breathing Buildings"). The deal provides an exit for the company's previous backers including MMC Ventures.
Breathing Buildings is based in Cambridge, United Kingdom and was formed in 2006 by Dr Shaun Fitzgerald from a collaboration between Cambridge University and Massachusetts Institute of Technology. Since then, Breathing Buildings has developed its own hybrid ventilation1 technology niche for the UK commercial ventilation market and is now a UK market leading designer, manufacturer and supplier of energy efficient, intelligently controlled natural and hybrid ventilation solutions. 
Breathing Buildings generated revenue of £7.8 million in its year ended 31 March 2016. The acquisition was funded from the Group's existing bank facilities and is expected to be immediately earnings enhancing.  It will be reported under Volution's Ventilation Group division in the UK where it will widen our capability in the attractive new build commercial market.
Commenting on the acquisition, Ronnie George, Chief Executive Officer of Volution, said:
"I am delighted that we have completed this acquisition and look forward to welcoming Dr Fitzgerald and his team to the Volution Group. Breathing Buildings has developed a market leading position in the UK for natural and hybrid ventilation in commercial buildings and we are excited about their potential for continuing growth."
Dr Shaun Fitzgerald, founder, CEO and shareholder of Breathing Buildings, said:
"Becoming part of the Volution Group will enable us to maintain our focus on growth through new product development and the provision of a more comprehensive offer to our client base.  I am excited about the opportunity to continue working with the business in the next phase of its development. Being part of the Volution Group offers significant new opportunities."
 
1 Hybrid ventilation is the use of natural ventilation when external weather conditions are favourable, combined with the use of mechanical ventilation at other times.
-Ends-

19 Dec
Canaccord...
205.00
Buy
19 Dec
Liberum Capital
206.00
Buy

Interim results

Financial highlights

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Revenue growth of 11.6% (10.3% at constant currency):
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Organic revenue growth of 6.3% (5.1% at constant currency),
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Inorganic revenue growth of 5.3% (5.2% at constant currency).
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Adjusted operating profit increased by 6.7% to £18.3 million (6.4% at constant currency).
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As anticipated, adjusted operating profit margin declined by 0.9 percentage points, partly as a consequence of the effect of acquired businesses with lower margins than the Group.
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Reported profit before tax of £10.1 million (H1 2017: £8.8 million), benefiting from the release of contingent consideration on the acquisition of VoltAir System which will not be paid.
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Adjusted operating cash inflow was £11.8 million (H1 2017: £16.4 million).
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Refinancing of banking facilities. The Group now has in place a £120 million multicurrency revolving credit facility together with an accordion of up to £30 million, maturing December 2021.
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Interim dividend of 1.46 pence per share, up 8.1% (H1 2017: 1.35 pence).




Strategic highlights

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The process of consolidating our existing Slough and Reading facilities in to a single new, purpose built injection moulding and fan assembly facility at Suttons Business Park in Reading, has commenced. We expect to complete the relocation by the end of the financial year.
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Further progress in our German business with the launch of our new Xenion decentralised heat recovery ventilation system, with improved air flow performance and low noise, enhancing our position as a leading supplier to both the new and refurbishment market for residential homes in Germany.
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Further extension of our public housing range of ventilation equipment for the refurbishment market in the UK is helping us gain new customers in spite of the current funding cutbacks in this sector.
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OEM (Torin-Sifan) has seen an excellent take up of its new high-efficiency Revolution 360 range of EC fans, more commonly known as EC3, with further capacity investment underway to support the growth in sales.