Acquisition of Breathing Buildings Limited results in smooth exit for MMC Ventures

Volution Group plc, a supplier of ventilation products to the residential and commercial construction markets, has completed the acquisition Breathing Buildings Limited.

The completion of this deal also provides an exit for MMC Ventures, the London-based venture capital firm which backed Breathing Buildings Limited.

Based in Cambridge, Breathing Buildings was formed in 2006 by Dr Shaun Fitzgerald from a collaboration between Cambridge University and Massachusetts Institute of Technology.

Since then, Breathing Buildings has developed its own hybrid ventilation technology niche for the UK commercial ventilation market and now specialises in designing, manufacturing and supplying energy efficient, hybrid ventilation solutions.

Breathing Buildings generated revenue of £7.8m in its year ended 31 March 2016.

Founded in 2000, MMC Ventures has invested in more than 50 companies and focuses on technology-enabled sectors, particularly financial and business services, business software, digital media and e-commerce.

Ronnie George, chief executive officer of Volution, said: “I am delighted that we have completed this acquisition and look forward to welcoming Dr Fitzgerald and his team to the Volution Group.

“Breathing Buildings has developed a market leading position in the UK for natural and hybrid ventilation in commercial buildings and we are excited about their potential for continuing growth.”

Bruce Macfarlane, managing partner at MMC Ventures, commented: “Breathing Buildings has grown into the leading business in its sector, and we’re proud that MMC has been a part of that.

“This deal is a fantastic demonstration of the value of innovative technology coming out of the Cambridge cluster and UK Universities. In Shaun and his team, Volution Group has acquired a great asset and Breathing Buildings has found an excellent home. We wish them every success and look forward to watching the next part of their journey”.

Dr Shaun Fitzgerald, founder and CEO of Breathing Buildings, added: “MMC has been extremely supportive of Breathing Buildings and we would not be where we are today without them.

“As well as providing financial resources for investment they have supported management in strategic decisions for the business.”