Ormandy Group, the business unit of Avingtrans PLC, has acquired Hevac Limited, a heating, ventilation and air conditioning solutions provider based in Elland, West Yorkshire.
It has also bought HeatExchangeSpares.com (HES) a plates and gaskets supplier, based in Watford.
Ormandy Group designs, manufactures and services off-site plant, heat exchangers and other HVAC (heating, ventilation and air conditioning) products.
The total consideration for the acquisitions is expected to be £825,000, which will be funded from the group’s existing cash resources.
In the latest reported financial year, ended December 2021, the combined businesses and assets generated £5.3m worth of sales and a loss before tax of £0.3m. Gross assets acquired total £750,000.
The acquisitions will complement Ormandy Group’s operations and expand its product range. Both Hevac and HES are established names in the HVAC industry and they supply systems and spares for commercial and public buildings around the world.
Steve McQuillan, CEO of Avingtrans, said: “I am pleased that Austen Adams and his team in the PSRE division have completed the acquisitions of Hevac and HES.
“These businesses strengthen Ormandy’s offering as a leading provider of offsite and heat exchange solutions to commercial and industrial customers in the UK and internationally.
“The acquisitions will also enable us to take greater control over our supply chain and release untapped potential in the market, to further strengthen our position.”
