Heating and cooling supplier acquired

A LEADING surface heating and cooling solutions firm in West Yorkshire has been acquired by a Finnish-owned company.

Underfloor heating supplier Uponor has bought Skelmanthorpe-based Velta UK in a deal which aims to expand the business whilst retaining the existing management.

Uponor has been a main supplier of underfloor heating technology to Velta UK for a number of years.

Lawyers at DLA Piper in Sheffield advised Uponor on the deal.

Rob McKie, associate at DLA Piper, said: “What is really interesting about this deal is that two years ago it would have been entirely uninteresting to the market – a strategic acquisition of one strong, stable company by another, to grow the business base.

“We are so used to the deals market at the moment being driven by the need to restructure a business or protect threatened jobs it is reassuring to see a deal such as this coming through.

“Whilst there is no doubt that the market is still far from ideal and the more transactions we see like this one coming through the region the better the signs for recovery.”