Manufacturer snapped up by private equity firm

A Birmingham thermal management business has been acquired by a private equity syndicate and will now trade as an independent entity.

Elite specialises in heating, ventilation, air conditioning and electric vehicle battery thermal management solutions for the construction, automotive and rail sectors and currently employs 70 individuals.

The business operates from its 40,000 sq ft headquarters in Tamworth and has a three-person management team that has led the business for eight years.

All three have been with the business for over 14 years and have worked together as part of the senior team for the last seven years.

A spokesperson for Elite, said: “This is an exciting period of growth for Elite. The West Midlands manufacturing industry has long been an area of high value to the UK economy, employing over 310,000 people, and our ambitious expansion strategy will ensure this remains the case. Our management team has a proven track record of servicing global clients, and we look forward to translating this success across the broader rail and automotive sectors, as we expand into key European markets.”

The acquisition was funded by Maven Capital Partners and Ethos Partners.