Volution Holdings
Vent-Axia is a manufacturers and suppliers of heating, ventilation and air conditioning systems, both in the UK and around the world.
In December 2002 Montagu led the Management Buyout of
Smiths Group plc's building products division which was renamed
Volution Holdings Limited.
Volution included market leading brands such as Vent-Axia
(ventilation), Kopex and Adaptaflex (ducting and fittings for
electrical cables). At completion, Volution's turnover was in the
region of £115 million.
Smiths Group was selling its building products businesses as part
of a wider programme of disposals to enable it to focus on its core
aerospace and medical markets. At the time of our approach Smiths
was considering separate disposals of its air movement and cable
management divisions.
We saw that both divisions were under common management and
serving common customers. We therefore approached Smiths Group with
an offer for both divisions. This approach simplified the disposal
for the vendor and had the support of management who had plans for
both product groups.
Our previous knowledge of the building products industry through
our successful investment in Caradon and our excellent relationship
with management enabled us to move quickly and confidently through
the acquisition process.
In May 2003 Volution disposed of Airstream, its washroom rentals
division for £25 million and in August 2006 Volution was sold to
ABN AMRO Capital, the private equity arm of ABN AMRO.
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