Genuit in two acquisitions for £5.2m

(Sharecast News) - Ventilation specialist Genuit Group said it had bought Sky Garden Limited, Omnie and Timoleon for a combined £5.2m. Sky Garden, which was purchased for £2.5m in cash, makes green roof technologies providing design, supply, installation and maintenance services for green and bio-solar roofs, podium decks and green walls.

The business, based in Tewksbury, Gloucestershire, will join the Genuit's water management solutions unit.

"This is an attractive market segment with significant future growth potential associated with the increasing need for urban re-greening and stormwater management," Genuit, formerly known as Polypipe, said.

Omnie and Timoleon manufacture underfloor heating (UFH) board technologies and providers of full UFH system design and supply services. The trade and assets of the group operating the Omnie and Timoleon businesses were bought for £2.7m.

Reporting by Frank Prenesti for Sharecast.com