PAX

September 2013

BUYER

Volution Holdings Ltd (UK), is a UK-based group of European ventilation companies owned by private equity firm Towerbrook. Volution includes the ventilation companies Torin Sifan, Manrose, Vent-Axia, Fresh and Pax. Volution has a strategy of geographical expansion of its business through acquisitions of quality brand names.

TARGET

Pax is a manufacturer of residential fans and towel rails in the Nordic region. Pax was established in 1959 and is based in Hälleforsnäs, in Sweden. Pax had sales in 2012 of SEK 105 million.

SELLER

Litorina is a Swedish private equity firm in the lower end of the mid-market.

TRANSACTION

An exclusive negotiated transaction.