11 March 2020
Swegon has acquired Aylesford-based grilles and diffusers manufacturer Waterloo Air Products.
Swegon Group CEO Hannu Saastamoinen said: "The UK, as the second largest ventilation market in Europe, has long been a priority for Swegon with previous successful UK acquisitions contributing well to the overall growth and profitability of the group. This acquisition gives us a market leading position in grilles and diffusers, enhancing our ability to serve our customers with a full offering for high indoor environmental quality.
"Waterloo’s strong sales and engineering competence are a great fit with Swegon and will strengthen our commitment to provide a range of full system solutions with superior customer service, as well as top quality custom room products”.
Russell Shenton, Managing Director at Waterloo, said: ”Becoming part of the Swegon Group will give us access to additional resources and provide the capability to accelerate our growth. Our product range is the perfect complement to Swegon’s overall offering and will allow both businesses to develop and grow”.
Former director and shareholder Ron Edmondson said: “We feel happy that Waterloo has found the best possible home to continue its development and that the customers and employees are in safe hands.''
Waterloo was founded in 1961 and has 140 employees. Net sales in 2019 were £12 million.