Business Description
- Nuaire is a leading manufacturer and distributor of domestic, commercial and industrial ventilation products with production facilities in Caerphilly, South Wales and St Brisson sur Loire, France
- The company had high market share in both the domestic and commercial sectors. It was differentiated by both its broad product offering and its multi-channel sales structure. It was the only major ventilation equipment manufacturer offering a direct channel to market rather than relying on third party distributors
Investment Rationale
- Nuaire had a strong reputation for quality, innovation and service. ECI saw the potential for driving further organic growth through the introduction of new products
- ECI believed that regulation would drive growth in the market for energy efficient ventilation systems
| Strategy/Value Creation
- Management team was strengthened including the introduction of an experienced industry chairman at inception and a planned CEO succession mid investment
- Realigned sales force to help drive higher market share and leverage the company’s strong relationships with key specifiers and end users in both the domestic and commercial sectors.
- R&D investment in partnership with several major universities kept Nuaire at the forefront of industry innovation and was recognised with the Queens Award for Innovation
- Improved working capital management and profit margins
Performance
- Nuaire was sold to Electra Partners for £73m representing a return of 6.4x cost and a 84% IRR
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