A management buy-out has been announced by Nu-Heat, the Honiton based underfloor heating and renewable systems supplier. Led by Managing Director David Roberts, with the backing of Bestport Capital, it is claimed that it will put the company in a strong position to continue with its impressive growth trajectory. Having dedicated much of their working lives to the company, which was launched 25 years ago, company Directors Alison Troop, Adrian Troop and Andrew Grimsley have decided to retire.
Commenting on the buy-out, David Roberts says: “This investment marks our confidence in the underfloor heating market and the next chapter in our growth story. Above all, this will help us to continue to provide our customers with the best heating solution whilst providing our people with a bright future firmly anchored in the origins of the business. This transition enables founding Directors, Alison, Adrian and Andrew, to begin the next chapter of their lives and everyone at Nu-Heat wants to say a big thank you to each of them and we wish them a long and happy retirement.”
Joining the Board, Ole Bettum from Bestport Capital added: “Nu-Heat is a fantastic company with a strong management team and an impressive track record in a growing market. We are delighted to be investing in Nu-Heat and we are excited about supporting the company’s future ambitions for growth.”
The picture shows (l to r): David Roberts, Nu-Heat Managing Director (second from left), with Nu-Heat’s founding Directors Andrew Grimsley, Alison Troop and Adrian Troop.
