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Elta acquires Irish duct company

Ventilation equipment manufacturer Elta Group is reported to have expanded its portfolio with the acquisition of an Irish duct company.
Elta, based in the West Midlands, has made an undisclosed deal to acquire Duct Products, The Business Desk reports.

The takeover of Belfast-based Duct Products (1998) Ltd and its wholly owned subsidiary Duct Products Ltd is said to be designed to boost the group's presence in the Irish heating, ventilation and air conditioning servicing market.

Graham Elsworth, transaction services partner at BDO, is understood to have provided financial and taxation due diligence services in connection with the deal. He is reported as saying: 'This was a strategic acquisition that strengthens Elta Group's offering even further. The group has a large market presence across four continents and we were delighted to work with the team again and be involved in this transaction.'

Chris Moore, Elta Group company secretary, is quoted as saying: 'As on previous occasions when we have used BDO for due diligence, they adopted a pragmatic and commercial approach to the assignment which fulfilled our requirements and met our expectations.'

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1 September 2011

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