Statement 06/07/2006 ABN AMRO Capital acquires Volution from Montagu Private Equity ABN AMRO Capital, the private equity business of ABN AMRO, acquired Volution Holdings Limited ("Volution") from Montagu Private Equity ("Montagu") in August 2006 after a competitive bid process. Volution's largest operation is Vent-Axia, the UK's leading branded ventilation business. Vent-Axia supplies a comprehensive range of ventilation products and is the market leader in the UK for both residential and commercial/industrial electrical fans. The group also incorporates the Torin-Sifan OEM fan and blower supplier along with Manrose Manufacturing's domestic and commercial electrical fans and ducting. The ventilation market in the UK is being driven strongly by government spending on social housing, increasing levels of brown-field development and increasingly tough building regulations relating to environmental standards. Volution operates from six facilities in the UK: Vent-Axia in Crawley and Dudley, Torin-Sifan in Swindon and Witney, and Manrose in Slough and Reading. As a result of the buy-out, ABN AMRO Capital acquired a 69.6% stake in Volution. The company's management team invest alongside ABN AMRO Capital and will hold the remainder of the equity. RBS will provide senior, second lien and mezzanine debt. Dominic Collier and Andrew Moye co-ordinated the investment on behalf of ABN AMRO Capital and will join the board of Volution as non-executive directors. Einur Lindh was appointed as non-executive Chairman to oversee and help develop the group's strategy. Since the beginning of 2006, ABN AMRO Capital has completed seven European buy-outs with an aggregate deal value of EUR 1.1 bln and has realised five exits. Previous investments in the sector have included Outinord (France, June 2006), Groupe OFIC (France, March 2006) and Nueva Terrain (Spain, July 2005). January 2007 saw the sale of the Cable Management Division in January, to the management team. June 2007 demonstrated Volution Holdings commitment to invest further in the UK and Northern Europe with the acquisition of Manrose Manufacturing Ltd, the Slough / Reading based privately owned ventilation equipment manufacturer. Volution Holdings, headed by Chief Executive Kevin Sargeant, commented that -"Manrose is an absolute fit for us, bringing with it expertise in the high volume residential fan sector of the market and complimenting the Vent-Axia Commercial and Industrial products, and the Torin-Sifan OEM fans. Manrose has an excellent and well invested manufacturing platform, which also includes a rapidly growing ducting and accessories business, ideally placed to assist us with the emerging Systems Ventilation market". Paul Southwell, Managing Partner of ABN AMRO Capital's UK buyout team, said: "This add-on acquisition demonstrates our ability to accelerate the growth of our portfolio companies. When we invested in Volution we made the strategic decision to sell its non-core Cable Management business in order that the proceeds put us in a better position to acquire other businesses. Within 12 months we have successfully sourced and implemented a purchase which will enhance Volution's already excellent market position, and we still have a number of other targets of interest in this sector"