Multi Fan Systems acquires Modus Air Ltd to support growth plansMember News
Established in 1970, Modus Air specialises in dust and fume control, ventilation and heating for industrial clients, and has previously acted as a supplier for Filtermist.
The acquisition is designed to increase the companys presence across a number of key markets as Contracts Manager, Richard Field explains;
This deal will play a key role in supporting our aggressive growth ambitions. Multi Fan and Modus are aligned in a number of ways we offer similar services, operate in the same sectors and both provide a full turn-key service to clients. When we found out that owner Stephen Vallis was looking for a buyer so he could retire, it seemed like the perfect opportunity for us.
Stephen Vallis will work as a consultant with Multi Fan Systems for a six-month handover period before retiring in 2018. Stephen comments, I have worked with the Filtermist team for a number of years so I am confident that the business will be in safe hands."
Whilst this is the first acquisition Multi Fan Systems has made, it follows a number of acquisitions by Filtermist International the most recent being Stoke based Dustcheck which Filtermist acquired in September of this year.
James Stansfield, Managing Director at Filtermist International, says, We have extremely ambitious growth targets across a number of UK and overseas markets. Acquiring established companies and expanding the products and services we can offer is a key factor in our plans.
All acquisitions have been carefully selected to ensure they are the right fit for Filtermist and its customers. We are very clear on the strategy we are adopting and we are extremely excited about the direction we are moving in. Filtermist is a global market leader in oil mist removal and we are looking forward to evolving our reputation as a market leader in all types of industrial air filtration and extraction.
Multi Fan Systems was acquired by Filtermist International in November 2016 and has since increased its workforce by 33%. The company is on track to exceed its 2017 targets following contract wins with a number of high-profile organisations including Federal-Mogul and Ricoh Products (UK).
Find out more about Multi Fan Systems by visiting www.multifansystems.co.uk.