Volution in Slovenia, France acquisitions for up to €55m
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Ventilation products maker Volution said it has bought I-Vent in Slovenia and completed the acquisition of Ventilairsec SA in France.
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Both acquisitions will be earnings enhancing and will report as part of Volution Group's Continental Europe sector. The deals are being funded from existing cash resources and the group borrowing facilities.
I-Vent was bought for an initial €25.2m, with further potential €15m based on stretching growth targets for results for the three years up to and including 2025.
Volution paid an initial €10m, for Ventilairsec with up to €5m more based on delivery of strong earnings growth for the year ending December 31, 2023.
Reporting by Frank Prenesti for Sharecast.com