London Stock Exchange welcomes Volution Group plc
Volution Group plc is a leading supplier of ventilation products to the residential construction market in its core geographical markets, being the UK, Sweden and Germany.
The Company sold 200,000,000 Ordinary Shares at a price of 150 pence per share. At the issue price Volution Group plc has a total market capitalisation of £300m on admission.
The Group operates through two divisions: the Ventilation Group, which principally supplies ventilation products for residential construction applications in the UK, Sweden, Norway and Germany and ventilation products for commercial construction applications in the UK; and Torin-Sifan, which supplies motors, fans and blowers to manufacturers of heating and ventilation products for both residential and commercial construction applications in Europe. The Ventilation consists of five key brands, focused primarily on the UK, Swedish, Norwegian and German ventilation markets: Vent-Axia, Manrose, Fresh, PAX and inVENTer.
Ronnie George, the Chief Executive Officer of Volution Group plc said:
"We are delighted with the response we have had to our IPO and investor willingness to back the management team and our strategy. We are committed to continuing to grow, both organically and by acquisition, providing our customers with market leading ventilation products and our investors with long-term value."
Joint Bookrunners were Canaccord Genuity and Liberum, with Canaccord Genuity also acting as Sponsor.