LONDON (ShareCast) - (Sharecast News) - Berenberg lifted its price target on Volution on Friday to 700p from 600p after it announced an agreement to buy Fantech Group in Australasia from Elta Group for up to AUD280m (£144m).
"This is Volution's largest acquisition to date and really encouraging to see such a strategically relevant deal come through," the bank said.

"We note it continues a trend of European products companies buying in Australia through 2024, which has included CRH and Saint-Gobain, and the deal economics look good."

Berenberg said it was upping its FY25-26 numbers by 10% and 16% respectively.

"Overall, this transaction is consistent with the well-established Volution acquisition strategy. With headquarters in Melbourne, Fantech has a range of brands and provides both commercial and residential ventilation into the Australian and New Zealand markets, having been active in the region for over 50 years," it said.

Berenberg maintained its 'buy' rating on Volution.

At 1305 BST, the shares were up 9.9% at 608.63p.

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