Radiators specialist Stelrad plans London float

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K-headquartered radiator maker Stellrad is looking to go public on the London stock market, in a move that could value it around £350 million.

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Stellrad Radiator Group, which is considering floating the main market of the London Stock Exchange, sells products to retailers as well as housebuilders.

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The company, which makes accessories such as steel panel radiators and towel warmers, is working with Investec Bank on the float plan.

Stellrad President Bob Ellis said: “The European countries where the group operates have been progressive in advancing the decarbonization agenda through strong regulation and policies and Stellrad’s products will play a key role in the long-term transition away from conventional gas boilers. . Large surface area radiators are particularly suitable for low temperature systems such as heat pumps.”

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Ellis said the company is well positioned to build on strong momentum “through both organic and inorganic growth opportunities.”

Market commentators have suggested that the group, which is owned by Bregel Capital and managers, could be valued in the region of £350 million when it floats.

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