LONDON, UK: Stelrad Group has completed the acquisition of DL Radiators for €28.346 million on a debt free, cash free basis.
Stelrad Group plc is a leading specialist manufacturer and distributor of radiators in the UK, Europe and Turkey.
The acquisition extends the range of radiators available to Stelrad’s existing sales and distribution network. It also expands its routes to market, provides a well-established complementary brand and increases its manufacturing capacity.
All elements that are aligned with the acquisition policy and strategy stated at the time of the Group’s admission to the London Stock Exchange in 2021.
Trevor Harvey, CEO of Stelrad, said: “This acquisition will allow Stelrad to grow our business through the provision of additional products and through geographical expansion.
DL Radiators has strong brands with a significant customer base and we look forward to realising value opportunities and expanding the market for their higher value product ranges.”