Oceanair has been trading since 2002 and is a specialist distributor for leading HVAC brands Daikin, Fujitsu and Panasonic, operating from locations in Mansfield and Crawley.
MKM business development director Rob Barnes said: "This acquisition fits perfectly with MKM's plans for expansion, allowing us to branch out further into the HVAC industry."
Oceanair will continue its operations under its existing name, ensuring continuity for both customers and suppliers. Tony Evanson, the owner of Oceanair, will remain involved in the business to provide support during the transition.
“I’m incredibly proud to see the business grow over the years and have developed some fantastic relationships with staff, customers, and suppliers,” he said. “I have thought long and hard about selling the business and was adamant it needed to go to the right home. I’m very pleased to be around the business to support the MKM team and look forward to seeing Oceanair grow under its new ownership”.
Founded in Hull in 1995, MKM Building Supplies has grown rapidly since it was acquired by Bain Capital in 2017, and mainly through acquisitions. Since 2017 it has growing from 47 branches to more than 120, and seen annual turnover increase from around £230m to £1bn in that time.
MKM plans to open another 10 branches across the UK over the next 12 months.
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