REG - Stelrad Group PLC - Completion of DL Radiators srl acquisition

StelradAnnouncement

13/07/2022 16:15

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RNS Number : 3912S  Stelrad Group PLC  13 July 2022

13 July 2022

STELRAD GROUP PLC

("Stelrad" or the "Company")

Completion of DL Radiators srl acquisition

Further to the announcement on 23 June 2022, Stelrad Group plc, a leading
specialist manufacturer and distributor of radiators in the UK, Europe and
Turkey, is pleased to confirm today that it has completed the acquisition of
DL Radiators srl (" DL Radiators ") for €28.346 million on a debt free,
cash free basis.

The acquisition extends the range of radiators available to Stelrad's existing
sales and distribution network, 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.''

 

ENQUIRIES

 Stelrad Group plc                           +44 (0)191 261 3301

 Trevor Harvey, Chief Executive Officer

 George Letham, Chief Financial Officer

 Investec Bank plc (Sole Corporate Broker)   +44 (0)20 7597 5970

 Bruce Garrow

 Ben Griffiths

 Powerscourt (Media Relations)               +44 (0)7855 432 699

 James White                                 stelrad@powerscourt-group.com (mailto:stelrad@powerscourt-group.com)

 Genevieve Ryan

 

 

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