DUDLEY-based green heating systems supplier AmbiRad has been bought by American firm Thomas and Betts in an £18m deal.
Founded in 1979, AmbiRad has estimated annual sales of £30m and is a specialist in radiant and warm-air heating, with brands including Airbloc and Nordair Niche which are primarily sold throughout Europe.
Thomas and Betts is based in Memphis and designs, manufactures and markets components and systems in the electrical power sector.
Jon Hustler and Gareth Iley, from the Birmingham office of Clearwater Corporate Finance, along with Cradley Heath law firm George Green advised AmbiRad Group on the deal.
The deal represents Clearwater’s sixth industrial transaction in 2011.
Mr Hustler said: “The acquisition confirms that quality UK-based manufacturing businesses remain attractive assets for overseas corporates.”
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