|
Genuit Group PLC on Monday said it has bought commercial ventilation solutions provider Monodraught Topco Ltd for £55.6 million on a debt-free and cash-free basis. The Leeds, England-based provider of water, climate and ventilation systems for buildings and infrastructure said Monodraught generated 13% organic compound annual revenue growth between 2021 and 2024, and is expected to product a 2025 outturn of around £19 million. The deal was full-funded through Genuit’s existing debt facilities. High Wycombe, England-based Monodraught, which will form part of Genuit’s Climate Management Solutions business unit, is projected to be earnings per share accretive in the first full year of ownership. Genuit said Monodraught, which has a strong presence in the education sector, is complementary to its existing ventilation brands, Nuaire and Domus, with ‘minimal product or market overlap’. Return on invested capital from the acquisition is forecast to be greater than Genuit’s weighted average cost of capital by the second full year of ownership, pre-synergies, the company added. ‘The acquisition significantly strengthens our position in the attractive UK ventilation market, which is benefiting from environmental and regulatory tailwinds,’ said Genuit Chief Executive Officer Joe Vorih. ‘This is evident both in the strong growth of Monodraught in recent years alongside the demand for our existing portfolio of ventilation and low carbon heating and cooling products. We expect this to continue and are excited about the opportunities ahead.’ Shares in Genuit were up 1.9% at 343.50 pence in London on Monday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
