FTSE 250 group makes two acquisitions to boost sustainable growth

FTSE 250 group Genuit has made two acquisitions in the South West in deals totalling £5.2m.

The piping specialist is the UK’s largest provider of sustainable water, climate and ventilation solutions for the built environment.

It has bought Tewkesbury-based Sky Garden for £2.5m, and sister companies Omnie and Timoleon for £2.7m.

Joe Vorih, Genuit Group chief executive, said: “We are excited by these acquisitions, which present a compelling opportunity for Genuit and align with our Sustainable Solutions for Growth strategy.

“They complement our existing portfolio, expand our product offering and will enable us to drive further growth in attractive end markets.”

Sky Garden specialises in a leader in green roof technologies providing design, supply, installation and maintenance services for green and bio-solar roofs, podium decks and green walls.

Genuit believes the company is operating in “an attractive market segment with significant future growth potential”.

Omnie and Timoleon, based in Exeter with a site in Poland, manufacture underfloor heating board technologies and systems. Omnie serves direct customers and the merchant channel, and Timoleon supplies OEM customers.

Genuit said it “anticipates growth in demand from increasing adoption of UFH solutions in both new housebuilding and RMI markets”, as part of the drive to lower the carbon footprint of the built environment.