A Leading Supplier


Manufacturer and supplier of heating, ventilation and air conditioning systems


A leading supplier of ventilation products that, at the time of our investment, included Vent-Axia (ventilation), Kopex and Adaptaflex (ducting and fittings for electrical cables).

In December 2002 Montagu led the Management Buyout of Smiths Group plc’s building products division, which was renamed Volution Holdings Limited. 

At the time of our approach, Smiths was considering separate disposals of its air movement and cable management divisions.  We saw that both divisions were under common management and serving common customers and we approached Smiths Group with an offer for both divisions.  This approach simplified the disposal for the vendor and had the support of management who had plans for both product groups.

In May 2003 Volution disposed of Airstream, its washroom rentals division and in August 2006 Volution was sold to ABN AMRO Capital, the private equity arm of ABN AMRO.