Liberum advises Volution Group plc (Ticker: FAN LN) on its recommended cash offer today for Energy Technique plc (ETQ LN).
The acquisition is in line with Volution's strategy as it seeks to acquire businesses with well-established brands in heating, ventilation and air conditioning markets where there are favourable structural and regulatory dynamics and with an emphasis on heat recovery systems.
“This proposed acquisition is consistent with our stated strategy of making disciplined and value enhancing acquisitions," Volution CEO Ronnie George said in a statement.
"We believe that ETQ has a strong presence as a supplier to the UK New Build Commercial market which is highly complementary to our strong position in the UK New Build Residential sector," he added.
The transaction is expected to close by the end of the year.
Liberum is sole financial adviser and broker to Volution.
Peter Tracey, Head of Investment Banking
Neil Patel, Investment Banking
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