Ideal Stelrad acquires
Keston Boilers

Ideal Stelrad Group Limited (Ideal Stelrad) has today announced the acquisition of Keston Boilers Limited for an undisclosed sum.

Ideal Stelrad is a leading Pan-European heating business headquartered in Newcastle upon Tyne. The company manufactures and markets an extensive range of domestic, commercial and industrial gas boilers in the U.K., and steel panel radiators, towel warmers and decorative radiators across Europe. Leading brands include Ideal Boilers, Stelrad Radiators and Henrad Radiators. Ideal Stelrad has five manufacturing sites across Europe, with a boiler facility in the U.K. and radiator facilities in the U.K., Netherlands, Belgium and Turkey. Ideal Stelrad currently employs over 2000 people. The acquisition will add to the significant market share growth that has been achieved by Ideal Commercial and Domestic Boilers and Stelrad Radiators in the UK.

Keston Boilers Limited was established in 1993 and has quickly grown to become a key player in both domestic and commercial high-efficiency condensing boilers. Keston also designs and manufactures award winning hot water storage systems and unique bespoke prefabricated rigs. Keston, based in Bromley, has a manufacturing subsidiary, Celsius 2000 SRL, in Bucharest, Romania. Keston employs 37 employees and Celsius employs 93.

Trevor Harvey, Ideal Stelrad’s Chief Executive Officer, commented: “We are delighted with this acquisition; both businesses had the foresight to develop a strong position in the UK in high efficiency central heating boilers, in anticipation of the legislative changes last year, and as a result have enjoyed strong growth. The product ranges of Ideal Boilers and Keston Boilers will complement each other perfectly and provide a great opportunity for continued development. We are also very pleased to welcome the Keston and Celsius employees into our team and, in particular, Nick Stevenson, Managing Director of Keston, and Florin Marinescu, President of Celsius, who have many years of experience in the heating industry.”

Nick Stevenson, Keston’s Managing Director, commented: “Keston has achieved considerable success and growth since it was established in 1993. However, the Board believe that for the company to realise its full potential it must become part of a larger group. Ideal Stelrad provided us with the perfect opportunity because their ambitions for growth match ours.” The Shareholders of Keston were advised by Nash Fitzwilliams.

Ideal Stelrad will make no further comment at this time