Genuit Group plc has acquired Monodraught Topco Limited for a total consideration of 55.6 million pounds on a debt-free and cash-free basis. Monodraught is a provider of commercial ventilation solutions in the UK, with advanced controls and data management capability focussed on the UK education sector. Genuit said the acquisition will form part of the Climate Management Solutions Business Unit. The company expects the acquisition to be EPS accretive in the first full year of ownership.
Joe Vorih, CEO, said: "The acquisition significantly strengthens our position in the attractive UK ventilation market, which is benefiting from environmental and regulatory tailwinds."
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