- Volution Group said it had acquired Australian ventilation produce supplier Ventair for up to A$26.9m (£16.6m).

Ventair sells to electrical wholesalers and retail distribution partners, who together had over 2,000 outlets across Australia. The deal included an upfront payment A$19.2m plus a deferred cash consideration of up to A$7.7m, contingent on performance for the year ending 31 July 2020.

'This acquisition is consistent with our stated strategy of making selective value-adding acquisitions and we are excited about the opportunity to enlarge our presence in the Australasian region,' chief executive Ronnie George said.

At 9:44am: [LON:FAN] Volution Group Plc share price was -0.5p at 153.75p

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