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Birmingham Post
Birmingham Post
Business
Graeme Whitfield

Stelrad announces £24.4m deal to buy Italian radiator company

DL Stock Exchange Newcastle South Yorkshire

Radiator manufacturer Stelrad has announced a £24m deal to acquire a European competitor, just over six months after floating on the Stock Exchange.

The company, which has its headquarters in Newcastle and its main manufacturing facilities in South Yorkshire, has agreed to buy Italian firm DL Radiators for €28.3m.

DL produces and sells radiators into the Italian heating market and employs around 350 people at its site in Moimacco, near Udine. It generated €86.9m (around £75m) revenue and €5m (£4.3m) normalised EBITDA in 2021, with gross assets of €62.9m (£54m).

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