Genuit buys Monodraught for £55.6m

(Sharecast News) - Genuit said on Monday that it has bought Monodraught - a provider of commercial ventilation solutions in the UK - for £55.6m. Monodraught focuses on solutions involving natural and hybrid ventilation. Genuit said it has a specific focus on the education sector, where it provides a "market leading" proposition.

Monodraught also provides high levels of technical support and design, continuing through to commissioning of customers' installations.

Genuit said the deal, which is expected to be accretive to earnings per share in the first full year of ownership, is "highly complementary" to the group's existing ventilation brands, Nuaire and Domus.

It will have minimal product or market overlap, providing an opportunity for Genuit "to bring commercial scale and market access beyond Monodraught's core".

Between 2021 and 2024, Monodraught delivered a 13% organic revenue compound annual growth rate. It has a high level of order book coverage underpinning continued strong revenue growth with an expected 2025 calendar outturn around £19m, Genuit said.

Chief executive Joe Vorih said: "I am delighted to welcome the Monodraught team to Genuit. They bring an innovative and highly complementary portfolio of ventilation products, as well as a controls and data management capability that extends our offering and enables us to integrate heating and cooling solutions from across the group.

"The acquisition significantly strengthens our position in the attractive UK ventilation market, which is benefiting from environmental and regulatory tailwinds. This is evident both in the strong growth of Monodraught in recent years alongside the demand for our existing portfolio of ventilation and low carbon heating and cooling products. We expect this to continue and are excited about the opportunities ahead."