Bregal Capital-owned Stelrad prepares for £500m flotation

Aug 11, 2021 | News, UKPEC

Stelrad, which is owned by Bregal Capital, a private equity firm, is joining the queue of industrial companies looking at selling shares to the public, Sky News understands. 

Stelrad, one of the UK’s biggest radiator manufacturers, is warming up plans for a London flotation that could value it at as much as £500m. Sky News has learned that Stelrad’s owners are working with bankers at Investec on a potential initial public offering (IPO).

A listing is being considered alongside a trade or private equity sale, with Clearwater, a corporate finance adviser, overseeing those discussions. The exploration of an IPO adds Stelrad to a list of industrial companies examining moves to go public in London in the coming months.

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Other float candidates include Marley, a provider of concrete and clay-roofing tiles, while companies such as Virgin Atlantic Airways are also preparing to make their stock market debuts. Sources said that expectations of a continued recovery in the post-COVID economy were fuelling companies’ desire to go public. Stelrad was previously part of the same holdings company as the boiler manufacturer Ideal, but that was sold seven years ago.

Source: Sky News

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