Acquisition is a breeze for air filtration specialist
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A Shropshire air filtration and extraction specialist has made a strategic acquisition intended to strengthen its position in the niche sector.
Telford based Multi Fan Systems has acquired Birmingham firm Modus Air as part of strategic growth plans.
Established in 1970, Modus Air specialises in dust and fume control, ventilation and heating for industrial clients, and has previously acted as a supplier for Multi Fan’s parent company Filtermist International.
The acquisition, designed to increase Multi Fan’s presence across a number of key markets, was implemented when the owner of Modus announced his intention to retire.
Contracts manager Richard Field said: “This deal will play a key role in supporting our aggressive growth ambitions. Multi Fan and Modus are aligned in a number of ways – we offer similar services, operate in the same sectors and both provide a full turn-key service to clients.
“When we found out that owner Stephen Vallis was looking for a buyer so he could retire, it seemed like the perfect opportunity for us.”
Mr Vallis will work as a consultant with Multi Fan Systems for a six-month handover period before retiring in 2018.
He said: “I have worked with the Filtermist team for a number of years so I am confident that the business will be in safe hands.”
Whilst this is the first acquisition Multi Fan Systems has made, it follows a number of acquisitions by Filtermist International – the most recent being Stoke based Dustcheck, which it acquired in September.
James Stansfield, managing director at Filtermist International, said: “We have extremely ambitious growth targets across a number of UK and overseas markets. Acquiring established companies and expanding the products and services we can offer is a key factor in our plans.
“All acquisitions have been carefully selected to ensure they are the right fit for Filtermist and its customers. We are very clear on the strategy we are adopting and we are extremely excited about the direction we are moving in.”
Multi Fan Systems was acquired by Filtermist International in November 2016 and has since increased its workforce by 33%. The company is on track to exceed its 2017 targets following contract wins with a number of high-profile organisations including Federal-Mogul and Ricoh Products (UK).
Kevin Hood, sales director, Multi Fan, is pictured with Stephen Vallis and Richard Field, contracts manager, Multi Fan.