Urban greening and UFH acquisitions

Genuit Group are pleased to announce the acquisition of Sky Garden Limited, Omnie and Timoleon.

Sky Garden Limited

Sky Garden Limited is a leader in green roof technologies providing design, supply, installation and maintenance services for green and bio-solar roofs, podium decks and green walls. Sky Garden was acquired for a cash consideration of £2.5m.

The business, based in Tewksbury, Gloucestershire, will join the Water Management Solutions (WMS) business unit and will extend the Group’s blue green roof offering. It will provide an additional route to market for Genuit’s Permavoid business, which it complements, and we also expect synergies with the Keytec installation business. Together these provide a full blue green roof solution offering.

This is an attractive market segment with significant future growth potential associated with the increasing need for urban re-greening and stormwater management.

Omnie and Timoleon

Omnie and Timoleon are leaders in 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 have been acquired for a cash consideration of £2.7m.

The businesses operate and manufacture in Exeter, Devon and Lomza, Poland. The brands will complement and enhance the Group’s UFH offering and will be part of the Climate Management Solutions (CMS) business unit. Omnie serves direct customers and the merchant channel whilst Timoleon supplies OEM customers. We expect strong synergies with the existing Nu-Heat business in CMS and with the Group’s Polypipe UFH offering for new housebuilding in the Group’s Sustainable Building Solutions (SBS) business unit.

The Group anticipates growth in demand from increasing adoption of UFH solutions in both new housebuilding and RMI markets, as part of the drive to lower the carbon footprint of the built environment.

The Sky Garden Limited acquisition completed on 5 August 2024, and the Omnie and Timoleon acquisition completed on 6 August 2024. These businesses are expected to deliver incremental revenue in the region of £6-7m in the remaining five months of the year. Earnings are not expected to be materially impacted in 2024.