Taylor Wessing has advised its client Electra Partners and the shareholders, on the sale of ventilation systems manufacturer Nuaire to Polypipe Group plc, a London Stock Exchange-listed manufacturer of plastic piping systems. The total value of the deal is approximately £145 million and completion is expected in August.

Headquartered in Caerphilly, Wales, Nuaire is a leading UK-based manufacturer and designer of ventilation equipment for commercial and residential applications. The company's innovative products help clients reduce their energy consumption and carbon emissions. Electra originally invested £23 million in the management buyout of Nuaire in 2007.

Charles Elkington, a Partner at Electra Partners, said: "In 2007 we saw an opportunity for regulatory-driven growth in the ventilation market. With our backing, Nuaire has invested strongly in new product development and successfully expanded its customer base, particularly in the residential market. The result of this has been an 80% increase in revenues and a 120% increase in profits for the business which has generated a strong investment return for Electra."

Nick Hazell, Private Equity partner at Taylor Wessing added: "It has been a pleasure to work with Electra and Nuaire from acquisition right through to exit. We wish Nuaire and its management all the best for this new phase under Polypipe ownership."

The Taylor Wessing team was led by Nick Hazell and Private Equity associate Jonny Bethell.