Volution (GB:FAN) has released an update.
Volution Group plc has announced their largest acquisition to date, agreeing to purchase Fantech Group for AUD$280 million to strengthen its presence in Australasia. The deal, expected to be earnings accretive immediately upon completion, will boost Volution’s market share with Fantech’s established commercial and residential ventilation solutions in Australia and New Zealand. This strategic move is anticipated to increase Australasia’s contribution to over 30% of Volution’s revenue and is financed through a newly refinanced credit facility.
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