Ambi-Rad has undergone a management buy-out for an undisclosed sum.
The £21 million turnover business is well known in the construction and building services industries for its high performance, energy efficient heating equipment, under its leading brand names: Ambi-Rad, Reznor, Nordair-Niche and Airbloc. The company employs over 200 staff at its four UK sites.
The company also owns 50% of a Chinese joint venture, Ambi-Rad (Daqing) Co Ltd which is based in Daqing, China.
The MBO team comprises Paul O’Donohue – Finance Director, Frank Staniland – Sales Director, Simon Hartles – Marketing Director and Chris Yates – Manufacturing Director. Mike Brookes will continue as Managing Director of the business, and John Fletcher will become non-executive Chairman as part of the deal.