Volution Group to acquire Ventair for AUD19.2m.

Volution Group, a leading supplier of ventilation products to the residential and commercial construction markets, has acquired Ventair, a leading specialist supplier of high quality, air movement products to the Australian residential ventilation market. The acquisition of Ventair is in-line with Volution's strategy to grow by selectively acquiring value-adding businesses in new and existing markets and geographies, across the residential ventilation market and, where appropriate, in the commercial ventilation market. The integration of Ventair into the Volution Group will provide an opportunity for further growth in the Australasian region and the combination of its product portfolio with that of Simx (New Zealand) will enable us to enhance our offer in both the Australian and New Zealand markets. Commenting on the acquisition, Ronnie George, Chief Executive Officer of Volution, said: "We are delighted to have acquired Ventair and look forward to welcoming Gary Purcell and his team to the Volution Group. This acquisition is consistent with our stated strategy of making selective value-adding acquisitions and we are excited about the opportunity to enlarge our presence in the Australasian region by introducing additional Volution Group product ranges via established routes to market. The range of Ventair products, coupled with the existing Volution product range, provides us with an attractive and improved portfolio for both the Australian and New Zealand market. We believe the acquisition will deliver value for our shareholders."