RETTIG ICC SIGNS AN AGREEMENT TO ACQUIRE THE DECORATIVE STEEL TUBULAR BUSINESS OF QUINN RADIATORS LTD
July 2019July 19, 2019
Rettig ICC Ltd has signed an agreement to acquire the Decorative Steel Tubular business of Quinn Radiators Ltd. The transaction will include the manufacturing assets, inventory, brands and customer relationships related to the Decorative Steel Tubular business, which will be acquired out of the current administration of Quinn Radiators Ltd.
Quinn Radiators is a market leader in the Decorative Steel Tubular business in the UK and Ireland with a market share of approximately 22%.
Mike Conlon, Vice President for Tubular, Electric Radiators & Convectors (TEC) and Regional Managing Director, West, of Rettig ICC says: “This acquisition will strengthen our foothold in the UK market and will bring us new customer relationships we are committed to maintain and develop. We are very excited to add Design by QRL, Barlo and Merriott to our brand portfolio and to enhance our sales to new channels as well.”
Rettig ICC has, from the administrator of Quinn Radiators Ltd, acquired a license to operate on Quinn Radiators Ltd’s Newport (South Wales) production site. The manufacturing of Decorative Steel Tubular products will remain in Newport for a period of up to 9 months and Rettig ICC will work to ensure continuity in manufacturing and sales. Rettig ICC plans to evaluate how to best realise efficiencies and harmonise product portfolios and then move the equipment accordingly from Newport to Rettig ICC facilities.
The acquired assets will be included in the Tubular, Electric Radiators & Convectors (TEC) division of Rettig ICC.
More information: Mike Conlon, Vice President for Tubular, Electric Radiators & Convectors (TEC) and Regional Managing Director, West +44 191 491 7307
Rettig ICC Ltd is Europe’s leading supplier of heat emitters. Our comprehensive product offering includes radiators, towel warmers, underfloor heating, convectors, valves and controls. Our mission is to offer better indoor climate comfort with fewer resources, less energy and emissions. Rettig ICC Ltd is majority-owned by Rettig Group, a Finnish business that creates value for generations through active and responsible ownership.