META Corporate Finance Ltd

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Halstead Boilers

Glen Dimplex Group has acquired Halstead Boilers Limited, a UK based manufacturer of Gas Domestic Central Heating Boilers. Founded in 1990, Halstead has a turnover of €30 million, 120 employees and is located at Halstead in Essex. Messrs Brian Day and Andrew Marshall the founding Shareholders will continue in their current roles as Joint Managing Directors.

The UK market for Gas Domestic Central Heating Boilers is 1.6 million units per annum, with Halstead having a 5% market share.

As part of its commitment to meeting the targets set out in the Kyoto agreement, the UK Government is introducing new building regulations from 1 April 2005. From that date 95% of all gas domestic central heating boilers installed in the UK must be condensing boilers. The current market share for condensing boilers is 25%. Condensing boilers are approximately 30% more energy efficient than the standard combination boilers.

 

Advisers for the shareholders of Halstead Boilers:

 

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