Flow Nordic divests Pluggit
Flow Nordic has divested the entire residential ventilation systems business Pluggit, including intellectual property rights and tools, to the Spanish Soler & Palau Ventilation Group.
Pluggit GmbH is a German manufacturer of residential ventilation systems with heat recovery. The company has branches in Austria and Italy and was founded in 1995 by Swedish engineers in Germany. Soler & Palau Ventilation Group is a global leader in ventilation; with four R&D centres located in Spain, Singapore, USA and Mexico and factories and subsidiaries in 35 different countries it is active in the residential, commercial and industrial ventilation sectors.
Flow Nordic B.V. is an investment company based in the Netherlands with a number of private and institutional shareholders from Scandinavia.
Flow Nordic was advised by Mannheimer Swartling in the transaction. The firm’s team was led by Pär Andersson and Oliver Cleblad in Malmö and Frankfurt, respectively, and comprised Christian Bloth, Ulf Christoph Lohrum, Meike Johnsen, Clemens Vidal, and Fredrik Livendahl.