Genuit Group, the Leeds-based provider of sustainable water, climate and ventilation solutions for the built environment, has acquired Monodraught for a total consideration of £55.6m.
Established over fifty years ago and based in High Wycombe, Monodraught is a provider of commercial ventilation solutions with advanced controls and data management capability focussed on the UK education sector.
The acquisition will form part of Genuit Group’s Climate Management Solutions (CMS) Business Unit and is complementary to the group’s existing ventilation brands, Nuaire and Domus.
Joe Vorih, CEO, Genuit Group, said: “I am delighted to welcome the Monodraught team to Genuit. They 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.
“The 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. We expect this to continue and are excited about the opportunities ahead.”
