Lunos, the Ljubljana-based developer of home ventilation systems which recently changed its name to I-Vent, has been acquired by the British company Volution Group, for up to €40 million. Volution Group said I-Vent would continue to be led by its founder Milan Kuster.
I-Vent designs, manufactures and supplies ventilation systems for buildings. It was founded as Lunos in 2010 and attained rapid growth in recent years. It presently has 20 full-time employees. In 2022, it generated revenue of €10 million and a net profit of €3.4 million.
Volution Group, a leading international designer and manufacturer of energy-efficient indoor air quality solutions, said it would immediately pay €25.2 million for an outright stake in Lunos, with further contingent consideration of up to €15 million based on stretching growth targets for the financial results for the three years up to the end of 2025. Regulatory approval is still pending.
“The feelings are mixed, you kind of see the company as your child. We had multiple offers and ended up deciding for Volution,” the newspaper Finance quoted Kuster as saying. Kuster announced that I-Vent would remain an independent company after the takeover and that he would lead it for at least three more years.
The buyer is opening the way for I-Vent to enter global markets, which is what the company has always wanted. “France and the rest of Western Europe are very difficult to penetrate. Through Volution, which has a sales network, it will be much easier. We expect significant growth in sales,” Kuster added.
Volution Group reported around €340 million in revenue and a profit of just under €40 million for 2022.
The family-run business Mebor is one of the world’s leading makers of log cutting machines. Supplying products to customers in more than 65 countries worldwide, the Železniki-based company knows its way around all sorts of wood or working conditions, including Siberia’s bitter cold or Africa’s tropical climate.
Mebor’s beginnings date back to 1982 when Boris Mesec designed and built the first Mebor band saw. Ever since the company has been growing and currently, it employs more than 100 workers and its service network includes more than 20 teams worldwide.
The company produces more than 250 large machines every year, most of them are its flagship product, horizontal band saws for cutting logs. In addition, the company produces transport equipment and smaller machines as well as complete sawmill lines, thus catering to small, medium and large-scale sawmills.
Heavily export-oriented, the company supplies some 70% of its products to customers in Europe and the rest to other continents. Mebor has adapted its machinery to different customer needs and wood types around the world. If a machine is to operate in a tropical area, it is fitted with special motors and electrical equipment, whereas a hydraulic oil heater is installed in those meant for low-temperature areas.
Mebor keeps developing new innovative solutions to adapt to changing market needs, following trends towards automation and labour costs reduction. The company was the first to make a fully automatic horizontal band saw.
“There would be no success or growth without innovation and development, and so we vigorously pursue this, investing a lot in the development of our machines and our brand. This is the only way we can thrive in a global market where competition is fierce,” the company says.
Mebor, a family-run business, is based in Železniki, north-west of Ljubljana. Photo: Mebor
Mebor’s future plans include production expansion at their base in Železniki to facilitate further growth, particularly in the segment of vertical band saws.
From the very start, the company has been known for its steady growth of 10-30% a year. In 2018, it received the Golden Gazelle Award for the best fast-growing company in Slovenia.
Price hikes and problems in the supply chain have somewhat upset the apple cart, but nevertheless, Mebor counts on expanding further this year since demand has continued to grow despite recent market slowdowns.
Steady growth translates into new hiring every year, but there are some difficulties in getting properly trained staff so many newly-hired workers are trained on the job. They also work with young people, offering traineeships to high school students.
The company attracts young engineers whom it gets to know very well during their studies, Uroš Mesec, Mebor’s director responsible for development and production, recently told the newspaper Finance. He runs the company along with his two brothers.
Mebor’s 20-strong engineering and development team won Finance’s 2022 award for the best such team at the manufacturers’ competition Factory of the Year. The company has told the newspaper that the team’s members have a free hand in the way they decide to approach and tackle challenges.
This year’s Africa Day International Conference took place at Brdo pri Kranju on Thursday and Friday, with climate security at the heart of the discussions. For Slovenia, the conference is an opportunity to seek support ahead of the upcoming elections for a non-permanent seat on the UN Security Council.For Africa, It was an opportunity to present and discuss Slovenia Africa Business Cooperation while expressing our support for Slovenia’s bid for a non-permanent seat on the UN Security Council..
International trade fair for commercial vehicles and logistics
The fair Utility Vehicles and Logistics combines the trends in utility and delivery vehicles, equipment and effective logistic solutions. The fair brings a vast offer of buses and accessories for buses, semi-trailers, trailers and major heavy utility vehicle brands. But the fair is not only intended for the professional public – every company on the market needs various delivery vehicles for its business operations. In addition to viewing the showcased utility vehicles from major brands, visitors will also be able to test many of them, as test drives. The Utility Vehicles and Logistics fair takes place concurrently with the Car and Maintenance fair.
The Utility Vehicles and Logistics will take place on 4 days from Thursday, 18. May to Sunday, 21. May 2023 in Celje.
West Africa’s largest Automotive and Spare Parts Exhibition
West Africa Automotive Show is the largest automotive and spare parts exhibition to take place in sub-Saharan Africa, with over 150 local and international exhibitors showcasing thousands of products to the 4,000+ industry professionals in attendance. The business-to-business event allows the industry leading companies to network, form partnerships and source distributors for their products. The exhibition will be showcasing products including oils, tyres, accessories, body repairs, lubricants, mirrors, etc. from an array of exhibitors from across the globe, such as UK, UAE, Turkey, Egypt, Poland, India, Pakistan, USA, France, Ghana and many more. The exhibition will be taking place at the Landmark Centre, VI, Lagos, Nigeria.
The WAAS West Africa Automotive Show will take place on 3 days from Tuesday, 16. May to Thursday, 18. May 2023 in Lagos.
