Weekly Email News for the Glass, Glazing & Fenestration Industries

Velux to acquire Jet-Group
16th October 2018

Velux A/S has reached an agreement to acquire the Jet-Group from Dutch investment firm Egeria as part of a move to grow further in the non-residential rooflight market. The purchase is the second by the Velux Group this year, after US skylight manufacturer Wasco Products in April.

The Velux Group’s first step into the commercial market was in 2012 when it launched the Velux Modular Skylight (VMS) system. It says its strategy is to develop in this area through organic growth and acquisitions.

Group CEO David Briggs said: “Through the acquisition of Jet-Group, we will strengthen our foothold within the commercial market in several countries and add several new product categories to our commercial offering in Europe.

“With the acquisition of Jet-Group we immediately become one of the leading players in the commercial market in Europe and will begin to merge our VMS operations with the Jet-Group to build a new commercial division, which can drive further growth in this market. We also see opportunities to improve Jet’s wholesale business by selling some products through the Velux distribution network, which will also bring more business to our dealer partners.”

Pending approval by the competition authorities in Germany and Austria and subject to completion of the acquisition of Jet-Group, Jet products will continue to be sold under the Jet brand and through the existing organisation, while Velux will continue to sell VMS products until customers are familiar with the change of ownership and a structured transition to the Velux brand can be made and communicated to the market.

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