Polypipe Group has acquired Nu-Heat, a supplier of renewable heating solutions, for £27 million.
The deal further expands Doncaster-based Polypipe’s proposition of climate management solutions, with a fast-growing position in packages involving renewable energy sources and strengthening the its sustainability credentials.
It also creates added value via integration with Nuaire Mechanical Heat and Ventilation Recovery systems with potential for revenue and cost synergies.
“I am delighted to announce the acquisition of Nu-Heat, which aligns with our key growth drivers, including our focus on low carbon heating and solutions for the environmental challenges facing the built environment,” said Martin Payne, CEO of Polypipe.
“This acquisition will enable us to further develop our underfloor heating capabilities, and to develop new and exciting ways to integrate underfloor heating, heat pumps, and air-based climate management systems.
“The Nu-Heat team have fantastic technical and application knowledge, and I would like to welcome them to the Polypipe Group.”
David Roberts, Managing Director of Nu-Heat, added: “We are delighted to be joining Polypipe, with which we share a similar culture and values.
“We look forward to being better positioned to deliver more sustainable solutions to customers and greater opportunities for our people as part of the Polypipe Group.”