A sustainability-focused PLC based in Leeds has completed a 拢56m swoop.
Genuit Group plc, the UK’s largest provider of sustainable water, climate and ventilation solutions for the built environment, has moved to acquire Monodraught for a total consideration of 拢55.6m, fully funded via Genuit’s existing debt facilities.
Monodraught, established over 50 years ago and based in High Wycombe, is a leading provider of commercial ventilation solutions in the UK, with advanced controls and data management capability focused on the UK education sector.
The acquisition will form part of Genuit鈥檚 Climate Management Solutions (CMS) business unit.
It said Monodraught would be highly complementary to the group’s existing ventilation brands, Nuaire and Domus, with minimal product or market overlap.
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“I am delighted to welcome the Monodraught team to Genuit,鈥� said Genuit CEO Joe Vorih.
鈥淭hey bring an innovative and highly complementary portfolio of ventilation products, as well as a controls and data management capability that extends our offering and enables us to integrate heating and cooling solutions from across the Group.聽
鈥淭he acquisition significantly strengthens our position in the attractive UK ventilation market, which is benefiting from environmental and regulatory tailwinds. 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.聽
鈥淲e expect this to continue and are excited about the opportunities ahead.”
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