Gledhill swallowed by Groupe Atlantic
FAMILY-run cylinder company Gledhill which recently expanded into the manufacture of duplex stainless steel cylinders from its Blackpool plant has been acquired by France-based Groupe Atlantic.
The deal completed by Gateley sees Jason Hobson taking over as managing director for the Gledhill Group (comprising Gledhill Building Products, Gledhill Response, Gledhill Spares and Gledhill International) supported by Tricia Holland as commercial director, reporting directly into Shaun Edwards, the UK Group Atlantic chief executive.
Gledhill has been a renowned supplier of hot water storage vessels in the UK for more than 70 years.
Group Atlantic is also a family owned company with manufacturing plants all over Europe and Asia with more than 5,500 employees worldwide and a turnover of €1.3bn.
It recently acquired UK company Hamworthy Boilers and more latterly, Ideal Boilers, as it continues its commitment to becoming market leader in heating products.
All the present board members, including the Gledhill family, will continue in management roles.
The chairman and co-founder of the company Houghton Gledhill said: “My brother and I are delighted that another family business has acquired ours so that together we can go from strength to strength.”
Clearwater International, led by partner Paul Jones with support from associate Oliver Wheatley, advised the Gledhill shareholders.
The corporate team from Gateley’s Manchester office that acted on the deal was led by corporate partner Charles Glaskie, assisted by corporate solicitors Leigh Whittaker and Kathryn Hornsby.
