Groupe Atlantic, the parent company of Hull’s Ideal Heating, has made a major investment in a leading manufacturer of heat pumps.
Clade Engineering Systems is a Bristol-headquartered business with a production facility in Leeds.
The stake is seen as reinforcing Groupe Atlantic's strategy to be at the forefront of low carbon heating solutions, with significant expansion of Ideal’s National Avenue site ongoing. It is aimed at increasing manufacturing and distribution capacity to accommodate heat pump production and warehousing as it scales up to meet anticipated legislation-led demand.
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Clade, a £22 million turnover operation, manufactures natural refrigerant CO2 heat pumps and refrigeration solutions, working from design to aftercare. It had set out on a search for a growth funding investor almost a year ago. Founded in 1985 as a refrigeration services company, it employs just over 100 people and recently sold a retail refrigeration service and maintenance business to focus on the technology, with heat pumps produced that can generate between 50KW and 1MW.
Groupe Atlantic’s UK, Republic of Ireland and North America division, based in Hull, is the market leader in commercial and domestic heating across Europe and owns brands including Hamworthy, ACV and Keston, alongside Ideal Heating.
With its expertise in natural refrigerant technology and heat pumps, Clade will upscale Groupe Atlantic’s commercial offering, providing customers with further choice on an industrial scale.
Shaun Edwards, chief executive for Groupe Atlantic in the UK, said: “As part of our strategy and commitment to offer the most advanced technologies for all our customers, we are delighted to be investing in Clade. By strengthening our expertise and portfolio in CO2 heat pumps, Groupe Atlantic will be able to give its commercial customers even more choice when it comes to paving the way for a sustainable and greener future.”
The undisclosed investment is described as ultimately expanding both businesses’ offerings and customer reach across the UK, not only in CO2 heat pump technology, but also with other green energy solutions.
Darren Finley, managing director of commercial products for Groupe Atlantic, said: “Clade is a market leader in natural refrigerant CO2 heat pumps and this investment enriches the range we can offer to our customers, providing the strongest offering to the UK market.
“Designed in the UK specifically for the UK market, their use of CO2 refrigerants and propane aligns with our strategy of decarbonising our heating solutions and helping customers with their path to net zero.”
Groupe Atlantic’s chief operating officer Jason Speedy and chief financial officer Steven Hairsine have joined the Clade board as directors.
Dean Frost, managing director of Clade, said: “We are excited to partner with Groupe Atlantic and benefit from the expansive support and knowledge that comes from partnering with a group that has a collective history of over 100 years of expertise in UK domestic and commercial heating.
“We look forward to the opportunities working together will bring and being able to offer our cutting-edge technologies to even more commercial customers.”
Ideal employs more than 800 people in Hull and turned over £352 million in its last financial year. It is also bringing forward a £1 million new National Training and Technology Centre at Bridgehead Business Park in Hessle, where installers will be upskilled.
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