DL Radiators srl, a company from Moimacco (Udine) leader in the production of tubular radiators, heated towel rails and plates, was acquired 100% by the English group Stelrad, a leading player in the British and European market in the production and distribution of radiators listed on the London stock exchange. Not a move to a fund, therefore, but to an industrial investor in the same sector: the operation is worth 28 million.
The CEO of DL Radiators Stefano Valente explains that “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 investing in cutting-edge technologies in the Moimacco industrial center. DL Radiators, with the current management team, will continue the production and sale of plate radiators, towel warmers, tubular radiators and electric radiators with the premium brands DL Radiators and De ‘Longhi through its historical partner customers. This will allow DL Radiators to affirm its strategy with greater vigor and effectiveness, consolidating its current position. Being an integral part of an industrial group like Stelrad Group plc will allow us to face future opportunities with even more positivity and enthusiasm ».
The acquired company belongs to the De Longhi family holding. For Trevor Harvey, CEO of Stelrad, «this is a strategic transaction that will allow us to grow our business both through the supply of new products not present in the current range, and thanks to geographical expansion. DL Radiators is a strong brand with a significant customer portfolio. After the completion of this transaction, Stelrad Group will be the market leader in six countries and will maintain one of the top three positions in another five ».
The turnover of DL Radiators, which has a total of about 350 employees, reached 86.9 million euros in 2021. Last July the dispute that had led to the closure of the Fossalta di Piave plant was closed: the agreement reached had aimed at maintaining employment levels with agreements with other companies in the area for the permanent reintegration of some workers.
The Stelrad Group, founded in the 1930s 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 employees and revenues of 232.5 million pounds.