Ambi-Rad completes management buyout

Ambi-rad logo

Clearwater Advisor

Press Release

West Midlands-based Ambi-Rad, Europe’s number one manufacturer of radiant tube heating systems for the commercial and industrial markets and a key supplier of warm air heating systems, has undergone a management buy-out for an undisclosed sum.

The £21 million turnover business is well known in the construction and building services industries for high performance energy efficient heating equipment under its leading brand names Ambi-Rad, Nordair-Niche, Nor-Ray-Vac, Airbloc and Reznor. The company employs over 200 staff at its four UK sites. The company also owns 50 per cent of a Chinese joint venture, Ambi-Rad (Daqing) Co Ltd which is based in Daqing, China.

Headquartered at Brierley Hill, West Midlands, Ambi-Rad was originally founded in 1979 by John Fletcher and Mike Brookes together with Larry Srodzinski, who died in 1996. The business has been successfully grown through an emphasis on new product development and through developing a strong export business.

Barclays Bank provided finance to support the MBO team comprising Paul O’Donohue – finance director, Frank Staniland – sales director, Simon Hartles – marketing director
and Chris Yates – manufacturing director. Mike Brookes remains as managing
director of the business as part of the deal and John Fletcher will become
non executive chairman.

“This deal is an excellent example of how a debt funded MBO can be used to enable management to acquire a business while still generating an excellent return for shareholders”

Partner, Clearwater International