MMC Ventures sees exit on ventilation system startup Breathing Buildings
MMC Ventures has achieved a successful exit as one of its portfolio companies, Breathing Buildings, a startup that builds low energy ventilation systems, was sold to Volution Group, a ventilation technology supplier.
Breathing Buildings was formed in 2006 as a spin-out from the University of Cambridge, collaborating with Massachusetts Institute of Technology. Since then, the company has become a market leader in the UK’s natural and hybrid ventilation market, deploying its proprietary technology in commercial buildings across the UK. The acquisition will bring Breathing Buildings under Volution’s Ventilation Group division. MMC first invested in the business in 2009, with further investment in 2010 and 2012.
MMC managing partner and former Breathing Buildings board member Bruce Macfarlane said: “Breathing Buildings has grown into the leading business in its sector, and we’re proud that MMC has been a part of that. This deal is a fantastic demonstration of the value of innovative technology coming out of the Cambridge cluster and UK Universities. In Shaun and his team, Volution Group has acquired a great asset and Breathing Buildings has found an excellent home. We wish them every success and look forward to watching the next part of their journey”.
Dr Shaun Fitzgerald, founder and CEO of Breathing Buildings commented: “MMC has been extremely supportive of Breathing Buildings and we would not be where we are today without them. As well as providing financial resources for investment they have supported management in strategic decisions for the business.”
To read the full press release, click here.