Business
Agreement to acquire AC Industries in Australia
Volution Group plc has signed an agreement to acquire AC Industries (ACI) for up to AUD$178.9 million (£89.5 million), comprising AUD$150 million (£75 million) on completion and up to AUD$28.9 million (£14.5 million) in contingent consideration. ACI, a specialist ventilation ducting solutions provider for underground mines, reported AUD$47.7 million in revenue and AUD$17.1 million in adjusted EBITDA for the year ended June 30, 2025. The acquisition, expected to complete in February 2026, will be funded through existing debt facilities, with leverage anticipated at approximately 1.8x upon completion, and is projected to be immediately earnings accretive. Disclaimer*
About this update from Volution Group Plc
[{"type":"text","content":"\n\n \n\n \n \nWednesday 10 December 2025\n \n \nVolution Group plc\nAgreement signed for up to AUD$178.9m (£89.5m) acquisition of AC Industries\n \nVolution Group plc (\"Volution\" or \"the Group\" or \"the Company\", LSE: FAN), a leading international designer and manufacturer of energy efficient indoor air quality solutions, is pleased to announce that it has signed an agreement to acquire the AC Industries business (\"ACI\").[1]\nAC Industries\nFounded in 1991 and headquartered in Sydney Australia, ACI designs, manufactures and supplies specialist ventilation ducting solutions for secondary ventilation in underground mines. \nWith its focus on providing healthy air in underground mines, and via its highly energy efficient ducting systems which reduce customers' energy consumption and support the energy transition, ACI is well aligned with our purpose of \"Healthy Air, sustainably\".\n \nKey points\n- Leading manufacturer and supplier of high-performance ventilation ducting and flow controls, further extending our comprehensive range of solutions in the Australasian region.\n- Clear market leader in Australia with growing international reach, serving over 150 mines in 15 countries, 120 of which are in Australia.\n- Over 80% of customer sites are gold or copper mines, remainder zinc/nickel/diamond/tin.\n- Strong record of revenue growth with loyal, blue chip customer base and high repeat revenue throughout the life of mines.\n- Demand underpinned by structural growth drivers of healthy air and energy efficiency.\n- Experienced leadership team with significant industry experience, will continue to lead the business post-acquisition.\n- Aligned with our financial characteristics; strong growth, attractive margins and strong cash generation.\nACI will report into Volution's Australasian region, where we currently serve some above ground mining applications through the Fantech industrial brand, and will benefit from being supported by our strong and enhanced Australasian functional resources and leadership capabilities.\n \nConsideration for the acquisition on a cash and debt free...