29 June 2023
Successful completion of the HVAC project I-Vent (Lunos Slovenia) / Volution group
We are proud to have successfully completed our biggest project of the year. It is a project in the HVAC industry "I-Vent (Lunos Slovenia)". I-Vent d.o.o., a leading developer of home ventilation systems, is being 100% acquired by the British company Volution Group Plc. I-Vent will continue to be led by its founder Mr. Milan Kuster. Under the leadership of Mr. Kuster, the company with 20 employees has achieved exceptional growth over the past years. In the financial year 2022, it generated 10 million euros in revenue and 3,4 million euros in net profit. After the acquisition, I-Vent will remain an independent company, Mr. Kuster will lead the company for at least another three years.
The company RJF exclusively performed all M&A consulting services for I-Vent and helped to conclude the deal. Volution Group acquired I-Vent for an initial payment of EUR 25.2 million on a debt-free and cash-free basis. The deal includes an additional contingent payment of up to EUR 15 million based on extended growth targets for financial results for the next 3 years up to and including December 31, 2025.
About the I-vent
I-vent d.o.o. is a ventilation system specialist from Slovenia. The company has a strong regional presence, a leading position on the domestic market and a growing market share in Croatia. I-Vent designs, manufactures and supplies residential ventilation systems, mainly aimed at decentralized heat recovery, which supply residential customers in Slovenia and Croatia. In 2022, the company generated approx. EUR 10 million in revenue, EUR 3.6 million in EBITDA and plans more than 20 years of growth in the coming years.
About the Volution group
Volution Group plc (LON:FAN), a leading international manufacturer of energy efficient indoor air quality solutions. Volution Group, listed on the London Stock Exchange, has a market capitalization of approximately EUR 1 billion. Last year, the company Volution Group generated around 340 million euros in revenue and a little less than 40 million euros in profit. The company is present in the UK, Central Europe and Australasia.