The shareholders of Energy Technique plc (ETQ) have sold the company to Volution Group plc for US$13.5 million.
ETQ is a UK-based air conditioning and heating supplier. ETQ’s trading subsidiary, ET Environmental Limited trading as Diffusion, is a designer, manufacturer and distributor of fan coils and commercial heating products to the commercial and residential sectors. Fan coil units, which are manufactured by Diffusion, are a device consisting of a heating or cooling coil and fan for use in heating, ventilation and air conditioning (HVAC) systems installed in residential and commercial buildings.
Volution Group is a leading supplier of ventilation products with primary markets in the UK and Northern Europe. The company operates through two divisions: the Ventilation Group, which primarily supplies ventilation products for residential and commercial construction applications in the UK, the Nordics, the Benelux countries and Germany; and Torin-Sifan, which supplies motors, fans and blowers to OEMs of heating and ventilation products for both residential and commercial construction applications in Europe.
Oaklins Cavendish, based in the UK, advised the seller in this transaction.
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