Avelair acquired by Teqnion

Avelair, a compressed air solutions specialist, has become the fourth company within 14 months sold by KBS Corporate to Swedish industrial group Teqnion.

Teqnion, spearheaded by CEO Johan Steene and CXO Daniel Zhang, bought Stanwell Group, Surge Protection Devices and Nubis Solutions between May 2023 and February 2024, and has further cemented its relationship with KBS by acquiring all outstanding shares in Bury St Edmunds-based Avelair.

Founded in 1993 by the parents of current CEO David Wood, Avelair designs and manufactures energy-efficient rotary screw air compressors ranging from 2.2Kw to 160Kw, providing full system approach solutions for compressed air efficiency, safety and reliability.

The company enjoys predictable and significant recurring revenues under the leadership of David Wood – who joined Avelair in 2003, became CEO in 2013 and, in Teqnion’s words, will continue as “the captain of the ship”.

Avelair has delivered close to £3million in revenue with robust margins for the last three years.

“I feel happy to continue to build Avelair with Teqnion as the company’s new forever home,” said David. “I feel confident that the Avelair team, together with Daniel, Johan and the Teqnion team, can continue to grow the company and develop our offering in providing clients with market-leading compressed air advice, services and products to benefit their businesses.”

Teqnion CEO Johan Steene added: “It’s a great day now that Avelair has joined the Teqnion group. They’re a great technical design company with tons of experience and skills. We love strong brands backed by awesome teams. This is going to be fun!“

Adam Nelson, KBS Corporate Transaction Executive, who oversaw the deal, also foresees a bright future for Avelair under the new ownership.

“The opportunity gathered a strong level of interest due to its consistency and niche sector,” said Adam.

“I feel there is a very positive outlook for Avelair due to the buyer’s strong history of successful acquisitions and the growth opportunities available to our client.

“All parties involved worked efficiently on this transaction and with an excellent level of communication. It was a pleasure to be a part of.”

Adam expressed particular gratitude to KBS colleague Georgia Rothwell, Senior Research Analyst, for presenting the opportunity to Teqnion, and to Harriet Jones and Guvvy Sandhu of Mackrell Solicitors for their “excellent support and legal advice on the transaction”.