Sale of HVAC and Heat Pump Distributor
Hornblower is pleased to announce the acquisition of Oceanair UK Ltd, an air conditioning and heating product distributor with over 2 decades-worth of trading history. Having successfully built a loyal customer base of consultants, installers and developers throughout the UK, Oceanair has emerged as a leading provider of low carbon alternatives, in response to net zero requirements, and has developed a growing specialism in air to water heat pumps.
Oceanair supplies a range of HVAC systems and products, which include traditional splits, Variable Refrigerant Flow (VRF) and Variable Refrigerant Volume (VRV) air conditioning as well as ventilation, chillers, air-to-water and gas engine heat pumps. The company’s supply is provided from its key manufacturing partners, which include the key Japanese brands, Daikin, Fujitsu and Panasonic.
To further enhance its reputation as an expert in its field, Oceanair has established a successful and growing Heat Pump Training Academy for Engineers. The Training Academy currently runs Design and Installation courses and has capacity for running further, income generating industry-recognised qualifications.
The acquisition is an ideal fit for the buyer, MKM Building Supplies, the UK’s largest Independent Builders’ Merchant with an expanding network of branches across England, Scotland and Wales. Rob Barnes, MKM’s Business Development Director encapsulated the sentiment of the purchase presenting a valuable addition to the business, saying that the acquisition enables MKM to expand its involvement in the HVAC industry and expressing the intention to continue working closely with the current Oceanair Team.
He further stated that, “[Oceanair’s] Heat Pump Training Academy conducts courses on design and installation and has recently earned recognition as a "Centre of Excellence" by Panasonic. This fits perfectly with our commitment of offering more sustainable options to customers.”
The deal completed in early 2024 and was managed by Hornblower’s International M&A Director & Business Sales and Acquisitions Consultant, Mark Sykes. Mark manages business sales for Hornblower from our Nottingham office.
SOLD – February 2024