The Business

Nuaire is a leading manufacturer and UK market leader in energy-efficient domestic and commercial ventilation solutions. Nuaire has been designing and manufacturing products for the UK and international markets since 1963 and its fans are used in all types of commercial and residential buildings including infrastructure projects.

Nuaire had a strong reputation for quality, innovation and service. It was differentiated by its multi-channel sales structure and was the only major ventilation equipment manufacturer offering a direct channel to market rather than relying on distributors.

How we helped

ECI backed the incumbent management team in an MBO from Nuaire’s founder. ECI introduced Raymond Edwards as Chairman and Alan Wright was subsequently recruited as CEO in July 2005 as part of a carefully planned succession to facilitate the retirement of the MD, David Willcox.

ECI supported a strong programme of NPD and continued innovation at Nuaire such that more than 60% of revenues in the year of exit derived from products launched during ECI’s investment period.

Results and return

Today Nuaire’s products are available in over 40 countries. The group employs more than 450 people worldwide and has an annual turnover of £67 million.

Following three years of strong growth the company was sold to Electra Partners in 2007, delivering a return of 6.4x cost and an IRR of 84%. Today Nuaire’s products are available in over 40 countries.