11/09/25
Zenova Group plc (AIM: ZED), the fire safety and heat management solutions company, announces that it has entered into a non-binding head of terms to acquire Restoreo International Limited ("Restoreo", together the "Potential Transaction").
The Potential Transaction represents a fundamental change in the scale and nature of Zenova's business. The enlarged company will combine Zenova's fire safety and insulation technologies with Restoreo's products, & international distribution expertise, creating a broader global platform for sales, manufacturing, and product innovation.
Nathan Jones (Restoreo International CEO) said “Restoreo Internationals outline agreement with Zenova group plc marks the culmination of discussions & negotiations of experienced like-minded founders and executives with backgrounds in innovation, sustainability, operations, and large-scale facilities management coming together with groundbreaking innovations .
The parties believe the most attractive opportunities for the combined company lie in energy efficiency improvements, supported by various government and non-government initiatives to improve building efficiency standards and by EPC rating changes aimed at reducing greenhouse gas emissions”.
The Potential Transaction would constitute a reverse takeover of Zenova under Rule 14 of the AIM Rules for Companies, given the size and scope of the transaction relative to Zenova's existing business and accordingly, the Company's shares will be suspended from trading on AIM today.
The proposed new board is confident that by leveraging Restoreo's existing technology expertise , logistics and distribution capabilities alongside Zenova's existing technology, IP, and manufacturing infrastructure, the enlarged group will be able to drive international growth through a combined product portfolio.
The Potential Transaction will be conditional, inter alia, on receiving regulatory approval from the British Board of Agreement (BBA) for the combined products of Zenova (walls) and Restoreo (windows), though which the greatest heat and energy losses in buildings can be contained.
Chairwomen Linda Page said “ Todays announcement represents serious intent, a true meeting of minds and shared ambitions which will in the coming months be formalised, most assuredly a significant step forward for both companies and an exciting future“