The Birmingham office of Clearwater International has advised AmbiRad Group on its sale to a leading US manufacturer
AmbiRad, a Midlands headquartered manufacturer and supplier of energy efficient heating systems has been acquired by Thomas & Betts Corporation (NYSE: TNB). Clearwater International, led by partner Jon Hustler and director Gareth Iley, acted as advisor to AmbiRad on the transaction. West Midlands-based George Green Solicitors also advised AmbiRad.
Founded in 1979, AmbiRad is a U.K. manufacturing success story with more than £30 million in annual sales and market-leading positions in radiant and warm-air heating. Its AmbiRad®, Airbloc® and Nordair Niche®-brand products are primarily sold throughout Europe. The company has three principal manufacturing locations in the West Midlands, Kent and mid-Wales.
Based in Memphis, Tenn., Thomas & Betts Corporation is a $2 billion global leader in the design, manufacturing and marketing of essential components and systems used to manage the connection, distribution, transmission and reliability of electrical power in industrial, utility and construction applications. The company is also a leading global provider of niche heating and ventilation products marketed under the Reznor® brand name.