M&A Deal Summary

Volution Acquires PAX AB

On September 3, 2013, Volution acquired manufacturer PAX AB from Litorina Capital Advisors

Acquisition Highlights
  • This is Volution’s 1st transaction in the Manufacturing sector.
  • This is Volution’s 2nd transaction in Sweden.

M&A Deal Summary

Date 2013-09-03
Target PAX AB
Sector Manufacturing
Buyer(s) Volution
Sellers(s) Litorina Capital Advisors
Deal Type Add-on Acquisition

Target

PAX AB

Hälleforsnäs, Sweden
PAX AB is a manufacturer of residential fans and towel rails in the Nordic region. Based in Hälleforsnäs, in Sweden, PAX boasts a significant share of the domestic fan market in Sweden, Norway and Finland. The primary market for PAX is the Nordic region with a smaller but growing share of sales being generated in export markets outside the Nordic region, such as Russia and Japan.

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Buyer(S) 1

Buyer

Volution

Crawley, United Kingdom

Category Company
Founded 2014
Sector Building Materials
Employees1,909
Revenue 328M GBP (2023)
DESCRIPTION

Volution is a manufacturer and distributor of ventilation products. 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. Volution Group was founded in 2014 and is based in Crawley, England.


DEAL STATS #
Overall 2 of 12
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 2 of 12
Country (Sweden) 2 of 4
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-04 Fresh AB

Gemla, Sweden

Fresh AB is a ventilation manufacturer based in Sweden. Company is a supplier of residential ventilation products and systems. In addition to Scandinavia, Fresh AB supplies its own products to customers in some 25 other countries including USA, China, Germany, Japan, the Netherlands, Russia, Belgium and the Baltic States.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-17 inVENTer

Thuringia, Germany

inVENTer GmbH is a manufacturer of decentralised residential heat recovery ventilation products in Germany. inVENTer has a significant share of the decentralised residential heat recovery ventilation market in Germany, with its products installed in both new and existing residential buildings and also sells its products across Europe.

Buy -

Seller(S) 1

SELLER

Litorina Capital Advisors

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 8.0B SEK
Size Large
Type Sector Agnostic
DESCRIPTION

Litorina Capital is a private equity firm that that invests in lower middle-market, privately held Scandinavian companies with an enterprise value of SEK 200 – SEK 1000 million. Sectors of interest include consumer goods, industrial, services, and information technology. The firm's investment horizon is three to seven years. Litorina Kapital was formed in 1998 and is based in Stockholm, Sweden.


DEAL STATS #
Overall 17 of 38
Sector (Manufacturing) 3 of 3
Type (Add-on Acquisition) 6 of 16
Country (Sweden) 17 of 37
Year (2013) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-03 BTJ Nordic AB

Lund, Sweden

BTJ is the supplier of informationservices and media products to the Swedish and Finish library market. BTJ's main business unit, Bibliotekstjanst, is the market leader when it comes to supplying public- and school libraries with media and information products and services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-23 Ateljé Margaretha AB

Boras, Sweden

Atelje Margaretha is a group consisting of two major businesses, Atelje Margaretha and Ashild, which together generated a revenue in 2006 of SEK 160 million in total.

Sell -