Maja Pawinska Sims 09 Nov 2021 // 1:34PM GMT
LONDON — Stelrad, the specialist manufacturer and distributor of radiators in the UK, Europe and Turkey, has appointed Powerscourt to provide communications support it in the run up to its listing on the London Stock Exchange.
The IPO, which went live last week, valued the business at £274 million. Stelrad is headquartered in Newcastle upon Tyne with 1,325 employees across its manufacturing and distribution facilities in the UK, Netherlands and Turkey.
The investment will enable the group to deliver growth in new areas suitable for a low or zero carbon future, such as air management and heat recovery, hydronic convectors and electric heat emitters.
Powerscourt head of Industrials James White, said: “Powerscourt is delighted to have provided communications support to Stelrad as part of its successful IPO. The business is a fantastic example of a UK company that is a market leader on the world stage and this transaction will give the group a strong platform from which to build on as it looks to play a key role in the UK’s wider decarbonisation plans.”
It is the latest transaction handled by the consultancy’s industrials and support services team, which this year has already advised on Polish locker business InPost’s €8 billion Amsterdam Euronext float; the £2.3 billion acquisition of temporary power generation firm Aggreko; builder’s merchant Travis Perkins’ demerger of its Wickes brand; and FTSE250 outsourcer Capita’s restructuring.