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Volution Group PLC on Wednesday said it expects to deliver another year of good growth in revenue, operating profit and cash generation as it announced the acquisition of Australia’s AC Industries. The Crawley, England-based energy efficiency and indoor air-quality solutions firm said the A$178.9 million, around £89.5 million, acquisition of Sydney-based AC Industries will be immediately earnings accretive. Founded in 1991, ACI designs, manufactures and supplies specialist ventilation ducting solutions for secondary ventilation in underground mines. It serves over 150 mines in 15 countries, 120 of which are in Australia, and has a ‘strong record of revenue growth with loyal, blue-chip customer base and high repeat revenue throughout the life of mines,’ Volution said. ACI will report into Volution’s Australasian region, which serves some above ground mining applications through the Fantech industrial brand. The purchase price, to be funded from existing debt facilities, comprises an initial £75 million on completion, followed by a further contingent payment of up to £14.5 million based on earnings performance. ACI reported adjusted earnings before interest, tax, depreciation and amortisation of A$17.1 million in the financial year that ended June 30 on A$47.7 million in revenue. The acquisition is expected to complete in February 2026. In addition, Volution said financial 2026 has started well with organic revenue growth at constant currency of 5% in the four months ended November. ‘All three regions delivered organic growth in the period, against what continues to be a varied, but generally challenging backdrop. Combined with inorganic growth of 25% from the prior year acquisition of Fantech and a small benefit from foreign exchange, total revenue growth for the first four months was just over 30%,’ Volution said in a statement. Operating margins have remained strong, with organic adjusted operating margins consistent with prior year, the company said. Reflecting this, Volution said: ‘We expect to deliver another year of good growth in revenue, operating profit and cash generation.’ Shares were up 7.0% to 656.00 pence each in London on Wednesday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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