Volution Group (LSE:FAN), the London-listed designer and manufacturer of energy efficient indoor air quality solutions, has acquired getAir for €40 million (approximately £34 million) on a cash and debt free basis.
The consideration is being funded from Volution's existing debt facilities.
Founded in 2014 and based in Mönchengladbach, getAir supplies decentralised residential heat recovery ventilation systems to primarily German and European OEM customers. The business generated unaudited revenue of €13.9 million and adjusted EBITDA of approximately €4.0 million in the twelve months to 30 June, implying a multiple of roughly 10 times EBITDA.
Volution said the deal will be immediately earnings accretive and adds inorganic revenue momentum for its new financial year.
getAir will sit within Volution's Continental Europe region, complementing its existing InVENTer brand, and its leadership team is staying on post-acquisition. The company pointed to European building regulations targeting carbon reduction, alongside consumer demand to cut energy costs, as continuing drivers of adoption for heat recovery ventilation.
"getAir is a high-quality and growing business with a leading position in decentralised heat recovery ventilation in Germany, where it complements our existing InVENTer brand", said Ronnie George, Volution's group chief executive.
He added that the deal enhances the group's product development and innovation capabilities and that Volution looks forward to building on getAir's "impressive growth trajectory".
The acquisition brings Volution's brand count to 31 across its UK, Continental Europe and Australasia regions.
News Intelligence what this means for the company
Volution has acquired getAir, a German heat recovery ventilation specialist, for €40 million (£34 million), funded from existing debt facilities. The deal values getAir at roughly 10 times EBITDA on €4.0 million adjusted EBITDA, and Volution expects it to be immediately earnings accretive while adding inorganic revenue momentum—a disciplined bolt-on that expands its Continental Europe footprint to 31 brands and strengthens product capabilities in a market driven by EU carbon reduction regulations and consumer energy-cost pressures.
The acquisition reinforces Volution's strategy of disciplined M&A in fragmented, regulation-driven markets. At 10x EBITDA on an immediately accretive deal, the valuation appears reasonable; immediate accretion and the retention of getAir's leadership team reduce integration risk and signal confidence in the business's trajectory.
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