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Volution Group PLC - West Sussex, England-based international designer and manufacturer of energy efficient indoor air quality solutions - Confirms that it has completed its acquisition of I-Vent, a designer, manufacturer and supplier of residential ventilation systems serving customers in Slovenia and Croatia. Volution in late April agreed to purchase I-Vent. Under the terms of the agreement, Volution said it will acquire I-Vent for an initial consideration of €25.2 million on a debt free cash basis, with further contingent consideration of up to €15 million based on stretching growth targets for the financial years up to and including December 31, 2025. Chief Executive Officer says: ‘We are delighted to have completed this earnings accretive transaction, and look forward to welcoming our new colleagues in I-Vent to the Group. The acquisition gives the Group access to fast growing new markets in Slovenia and Croatia, and I-Vent’s innovative Low Carbon product solutions will further enrich our Group’s expansive product portfolio, particularly in decentralised heat recovery.’ Current stock price: 369.00 pence, up 3.4% in London on Friday 12-month change: up 8.9% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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