Chiltern acquires Doby Verrolec

The firm used its Air Holdco vehicle to acquire at least 75% of the company.

Chiltern is an evergreen investor that provides equity cheques of £3-15m in equity to support UK-based, profitable companies.

The vendor of the shares, Heitkamp & Thumann Group, is a family-owned industrial manufacturing group headquartered in Dusseldorf. The company divested the business to concentrate on its core businesses, according to a statement.

Company
Founded in 1998, the Newcastle-upon-Tyne-based business designs and manufactures ductwork components for air control systems used in heating, ventilation and air-conditioning applications. Doby also supplies suspension systems, and metal sections and profiles for a range of applications, as well as bespoke products and services.

Advisers
Vendor – IMAP M&A Consultants (corporate finance).

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