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Plastic piping systems manufacturer Polypipe Group has acquired Nu-Heat, the Devon-based supplier of UFH systems and renewable heating products, for £27million. The deal is expected to complement Polypipe’s offering of climate management solutions and help it grow in the area of low-carbon heating.
“This acquisition will enable us to further develop our underfloor heating capabilities, and to develop new and exciting ways to integrate underfloor heating, heat pumps, and air-based climate management systems,” comments Polypipe chief executive Martin Payne.
Nu-Heat’s strong position in the residential sector, with its mix of growth increasingly towards renewables, will enhance Polypipe’s strategy to broaden its market reach for climate management solutions.
David Roberts, Nu-Heat MD, says: “We are delighted to be joining Polypipe, with which we share a similar culture and values. We look forward to being better positioned to deliver more sustainable solutions to customers and greater opportunities for our people as part of the Polypipe Group.”