GOTHENBURG, SWEDEN, Oct. 3, 2016 – Swegon, a wholly owned business unit within Investment AB Latour, acquires Ruskin Air Management Ltd (RAML) from Johnson Controls International Plc.
RAML is a leading manufacturer of air distribution, fire and smoke control and ventilation products in the United Kingdom and Ireland, with more than 50 years of experience in the market. Through its portfolio of well-known specialty brands, RAML products deliver unique air management solutions that enhance a facilities’ ability to operate comfortably, efficiently, safely and in compliance with regulatory requirements. The company has 220 employees with operations in Whitstable and Bridgnorth, United Kingdom.
“This acquisition gives us a very strong local presence and identity in UK through the well-known RAML brands. In addition, with RAML, we add a new competence area in Swegon in form of their extensive fire & smoke product knowledge. RAML products are complementary for us and we see good potential for cross sales in the future” says Hannu Saastamoinen, CEO of Swegon.
“This is a perfect match for Ruskin Air Management Ltd. and we look forward to continuing our growth momentum as part of the Swegon Group.”, says Kevin Munson, Managing Director, Ruskin Air Management Ltd.
XMS Capital Partners acted as exclusive financial advisor and Walker Morris LLP acted as legal advisor to Johnson Controls.
About Johnson Controls International Plc.
Johnson Controls is a global leader in building controls, HVAC equipment, fire and security. With the recent acquisition of Tyco International, Johnson Controls is now headquartered in Cork, Ireland, with approximately $32bn in annual revenue. www.johnsoncontrols.com.
Swegon AB is a company in the Latour group and manufactures and sells products and solutions for ventilation and indoor climate systems. The Swegon company group has 1,900 employees and the turnover is SEK 3.7 billion. More information can be found at www.swegon.com.
About XMS Capital Partners
XMS Capital Partners, a boutique investment bank with offices in Chicago, London and Dublin, was founded in 2006 on the belief that clients value senior banker involvement from a trusted advisor in all aspects of an engagement.
We practice Involvement BankingTM, which means going beyond transaction-focused investment banking: we are client centric, not product driven, and our solutions are tailored, innovative and supported by rigorous analytics.
XMS has a core expertise in complex strategic and financial transactions and our clients know us for our thoughtful judgment, in-depth collaboration and creative solutions.
Our partners average over 25 years of investment banking experience and have led hundreds of billions of dollars of global transactions.