Clearwater has advised Stelrad Group PLC (Stelrad), a leading specialist manufacturer and distributor of steel panel radiators, on its initial public offering (IPO) on the London Stock Exchange which valued the business at €320m (£274m).
Stelrad is a leading specialist manufacturer and distributor of steel panel radiators in the UK, Europe and Turkey, selling an extensive range of standard and premium steel panel radiators, low surface temperature (LST) radiators, towel warmers, decorative steel tubular radiators, and other steel ‘column’ radiators to more than 500 customers annually.
Headquartered in Newcastle upon Tyne in the United Kingdom, Stelrad has manufacturing and distribution facilities at Mexborough in the UK, Nuth in the Netherlands, and Çorlu in Turkey, employing ~1,325 employees across the business.
The Group, supported by an experienced management team and led by CEO Trevor Harvey, is poised to play a significant role in the decarbonisation journey of the home as it adapts to various governments' initiatives. The IPO will see Stelrad build upon its leading market position to deliver further growth within existing product categories, alongside complementary areas suitable for a low or zero carbon future.
