Crawley-based ventilation systems company Volution Holdings has purchased Pax, a Swedish fan manufacturer.
Volution brought 100% of Pax’s shares in order to take complete control of the company which has a significant market share across Sweden, Norway and Finland.
Pax specialises in residential fans and also makes radiators.
UK-based Volution, made its first investment in the Scandinavian market, which it believes holds growth opportunity, in October last year when it took a stake in Fresh another ventilation systems manufacturer.
The acquisition of Pax, which was funded using cash generated within the group, strengthens Volution’s product and service portfolio in Scandinavia. Pax’s legacy of innovation in environmentally efficient ventilation systems also complements Volution’s determined strategy to lead the energy efficient ventilation market.
Commenting on the acquisition, Ronnie George, CEO of Volution, said he was delighted
at the new addition to the firm’s growing brand portfolio. “Boasting established trade wholesale channels to market, PAX complements our existing Swedish presence. Both PAX and Fresh AB are powerful brands in the market with innovative distinctive product portfolios which will allow us to extend our geographic coverage across continental Europe,” he explained.
Volution Holdings is headquartered in Crawley along with another of its key UK-based brands, Vent Axia.
Vent Axia historically specialised in ventilation systems for the pub and commercial catering sector but now also services the domestic ventilation market.
In January this year it took the decision to repatriate all of its domestic fan production to the UK.