Ketler & Partners, a member of Karanovic, and Ilej & Partners in cooperation with Karanovic & Partners have advised the Volution Group on its acquisition of I-Vent in Slovenia and Croatia for EUR 25.2 million on a debt-free cash-free basis from Milan Kuster. Zagorc & Partners advised Kuster on the sale.
The Volution Group is a UK-based designer and manufacturer of energy-efficient indoor air quality solutions, with primary markets in the UK, Continental Europe, and Australasia.
I-Vent designs, manufactures, and supplies residential ventilation systems, primarily focused on decentralized heat recovery, supplying residential customers in Slovenia and Croatia.
According to Karanovic & Partners, “the deal is with further contingent consideration of up to EUR 15 million based on stretching growth targets for the financial results for the three years up to, and including December 31, 2025.”
The Ketler & Partners team included Senior Partner Marko Ketler and Senior Associate Ajda Kuhar.
The Ilej & Partners team included Senior Partner Goran Ilej and Associates Antun Skansi and Tea Vuletin.
The Zagorc & Partners team included Managing Partner Benjamin Zagorc and Partner Polona Bozicko.