Controlling Stake in Veotec Group Ltd is Acquired
Jun 07 2017 Comments 0
Veotec Group, the international manufacturer and supplier of air separation, filtration and louvre HVAC products, have been partly acquired by Wozair Ltd. Veotec’s headquarters are based in Farringdon, Hampshire, UK.
Wozair Ltd has purchased a majority shareholding of the Veotec Group of companies’ shares.
Wozair Ltd is a privately owned international HVAC equipment manufacturer with a turnover of £39m in 2016. Headquartered in the UK with operations in Europe, Singapore, Dubai, Korea, USA and Australia, it provides specialist solutions in a diverse range of industrial sectors including power generation, oil & gas, marine and industrial.
In a letter to clients and suppliers, Phil Pendrill and Andrew Russell, directors of Veotec, said: “The purchase is very positive and a major milestone in the growth of the Veotec businesses; the ten 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”.
In an announcement to employees, Wozair owners Paul Azzopardi and Simon Collins extended their welcome of the Veotec business into the group highlighting the considerable product range, design expertise, manufacturing capability and intellectual property will compliment those currently offered by Wozair and provide customers a more complete suite of air management products in highly specialised and demanding applications.
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