INDUSTRY
After in depth research was conducted by Avondale, the business was marketed for sale. A great deal of interest resulted in eight offers being presented.
Invisible Heating Systems Ltd were established in 1996 and have an annual turnover of £3.4m. The business provides under floor heating with a focus on using renewable energy technologies. The directors decided to sell the business and so contacted Avondale.
After in depth research was conducted by Avondale, the business was marketed for sale. A great deal of interest resulted in eight offers being presented. An offer was negotiated and accepted from a significant synergistic trade buyer. Although exclusivity was granted and due diligence nearly completed, the purchaser withdrew from the transaction.
Avondale immediately revisited the market and quickly identified alternative purchasers. The business sold quickly to Beltrae Partners, a Northern Irish Private Equity backed investment house. Avondale assisted with the negotiations enabling our clients to remain with the business. They are now working with the new managing director as strategic advisers on a reduced hour basis.
