Veotec Group, an international manufacturer and supplier of air separation, filtration and louvre heating, ventilation and air conditioning (HVAC) products, has been partly acquired by Wozair Ltd.
In the deal, of which financial details were not disclosed, Wozair has purchased a majority shareholding of Veotec Group’s company shares.
Wozair Ltd is a privately owned international HVAC equipment manufacturer with a turnover of £39m ($50m) in 2016. Headquartered in the UK with operations in Europe, Singapore, Dubai, Korea, the US and Australia, it provides specialist solutions in a diverse range of industrial sectors.
Phil Pendrill and Andrew Russell, Directors of Veotec, said that the purchase is a “very positive and a major milestone” in the growth of the Veotec businesses. They added, “The 10 years of product and manufacturing technology development, testing and certification is a great platform for us to continually develop the industry’s most advanced range of HVAC equipment for specialist applications.”
Wozair owners Paul Azzopardi and Simon Collins highlighted how Veotec’s product range, design expertise, manufacturing capability and intellectual property will complement its own and provide customers a more complete suite of air management products in highly-specialised and demanding applications.