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Radiators specialist Stelrad plans London float

·1-min read
Stelrad Radiator Group is looking to float on the main market (Shaun Flannery Photography Ltd)
Stelrad Radiator Group is looking to float on the main market (Shaun Flannery Photography Ltd)

UK-headquartered radiators manufacturer Stelrad is looking to go public on the London stock market, in move that could value it at around £350 million.

Stelrad Radiator Group, which is considering floating on the main market of the London Stock Exchange, sells products to a range of retailers, as well as housebuilders.

The company, which makes goods such as steel panel radiators and towel warmers, is working with Investec Bank on the float plan.

Bob Ellis, chairman of Stelrad, said: “The European countries where the group operates have been progressive in advancing the decarbonisation agenda through strong regulation and policies and Stelrad's products will play a key role in the longer-term transition away from traditional gas boilers with larger surface area radiators in particular being well suited to low temperature systems such as heat pumps.”

Ellis added that the company is well placed to build on strong momentum “through both organic and inorganic growth opportunities”.

Market commentators have suggested that the group, which is owned by Bregal Capital and managers, could be worth in the region of £350 million when it floats.

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