Management buyout at Ambi-Rad
Under new management — Ambi-Rad has undergone a management buyout. From left are Chris Yates (manufacturing director), Simon Hartles (marketing director), Mike Brookes (managing director), John Fletcher (non-executive chairman), Frank Staniland (sales directors) and Paul O’Donohue (finance director).
Ambi-Rad has undergone a management buyout for an undisclosed sum. The company says it is Europe’s number-one manufacturer of radiant-tube heating systems for the commercial and industrial markets and a major supplier of warm-air heating systems. The company has a turnover of £21 million, and its major brands are Ambi-Rad, Nordair-Niche and Airbloc. Over 200 staff are employed at four sites in the UK. The company also owns 50% of a Chinese joint venture, Ambi-Rad (Daqing) Co. Ltd. The company was founded in 1979 and has its headquarters at Brierley Hill in the West Midlands. The MBO team comprised Paul O’Donohue (finance director), Frank Staniland (sales director), Simon Hartles (marketing director) and Chris Yates (manufacturing director). The business was founded in 1979 by John Fletcher and Mike Brookes, together with Larry Srodzinski, who died in 1996. Mike Brookes will continue as managing director, and John Fletcher becomes non-executive chairman as part of the deal. Mike Brooks comments, ‘We have successfully developed Ambi-Rad into a market-leading firm which is testament to the skills of our entire workforce. The business has significant growth opportunities, including developing its Far East business through the Chinese joint venture and the continued expansion of our export business. We have opened up a number of new markets, which currently account for 20% of our sales, and we hope to grow this significantly in the future. The customer base includes Marks & Spencer, Land Rover, Carlsberg, Ford, B&Q, Unipart, Next and Ikea. Ambi-Rad is a key supplier to the Ministry of Defence. In major heating-decentralisation projects, the company has achieved significant energy savings for end-users by replacing old technology with market-leading products. This Autumn, Ambi-Rad will announce an all-new range of radiant-heating products to bring even greater cost savings. Finance consultants on the MBO were Clearwater Corporate Finance. Assistant director Gareth Iley says, ‘This is a strong management team which will see the company go from strength to strength.’
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