DL Radiators srl, a leader manufacturer of column radiators, towel radiators and panels, has been acquired 100% by the British Stelrad Group, a leading player in the British and European market in the production and distribution of radiators.
The announcement by the CEO of DL Radiators Stefano Valente:
I am very proud to announce that on June 23rd the integration of DL Radiators srl into Stelrad Group plc, a historic British group specialized in the production of radiators and towel radiators, listed on the London Stock Exchange. The perfect reciprocity of ideals, vision, markets and products, combined with the common manufacturing culture, made this agreement possible, together with the shared desire to continue to invest in cutting-edge technologies in the industrial hub of Moimacco. DL Radiators, with the current management team, will continue the production and sale of panels, towel radiators, columns radiators and electric radiators with the premium brands DL Radiators and De’ Longhi through its historical partner customers. This very important agreement will allow DL Radiators to assert its strategy more vigorously and effectively, consolidating the current position of market leader and product innovator. Surely being an integral part of an important industrial group like Stelrad Group plc, will allow us to face with even more positivity and enthusiasm the future opportunities that will manifest”.
Satisfaction is also expressed by Trevor Harvey, CEO of Stelrad:
This is a strategic transaction for Stelrad that will allow to grow our business both through the supply of new products not present in our current range, and thanks to the geographical expansion. DL Radiators is a strong brand with a significant customer portfolio and we look forward to working with the team to seize new opportunities and expand our market thanks to the high quality of DL Radiators products. After completion of this transaction, Stelrad Group will be a market leader in six countries and will maintain one of the top 3 positions in five others. We will continue to develop our relationships in continental Europe with long-term distribution partners, ensuring we continue to adapt to the changing market.”
The turnover of DL Radiators, which has a total of about 350 employees, in 2021 reached 86.9 million euros and 5 million EBITDA.
The Stelrad Group, founded in the thirties of the last century and absolute market leader in the United Kingdom, Ireland, the Netherlands, Belgium and Denmark, has its headquarters in Newcastle upon Tyne and industrial plants in Mexborough in the UK, Nuth in the Netherlands and Çorlu in Turkey, with 1.326 collaborators and revenues for 232,5 million pounds.