Cardiff-based Elmatic, one of the UK's oldest manufacturers of industrial electric heating elements, has been acquired by Swedish corporate giant NIBE Industrier AB. The value of the transaction has not been disclosed.
Elmatic's Heritage and Operations
Founded in 1949, Elmatic (Cardiff) Ltd has operated as a family-run business dedicated to producing custom-built heating solutions for diverse industries. The company has built a strong reputation for innovation and quality over its decades-long history.
NIBE's Global Expertise
NIBE Industrier AB brings more than 70 years of international industry leadership. Originating in Markaryd, Sweden, the company has expanded to become a global group with a focus on sustainable, energy-efficient heating, climate and control solutions.
Statements from Leadership
John Skalitzky, former owner of Elmatic (Cardiff) Ltd, said: "On behalf of my family and myself, we are reassured by the knowledge that Elmatic's future will continue under the leadership of NIBE's group of companies. I would like to thank the exceptional team of employees, who will continue their work in very capable hands."
Following the acquisition, Elmatic will continue to operate with the same management team. To support the transition and strengthen strategic alignment within the NIBE Element business area, Simon Ellam, managing director of Backer Heatrod and Heat Trace, will take on a chairman role supporting Elmatic's leadership team. His extensive industry expertise and experience within NIBE Element's UK operations will help guide Elmatic through its next chapter of growth.
Mr Ellam said: "It's clear that industrial heating technology has been at the heart of Elmatic's strategy from the start and combining this core strength with both our UK and group capabilities will only go to strengthen the industrial heating solutions we can provide. John took the business on from his father and has continued to innovate from both a business and technology perspective ever since. I'm excited to learn from the team and to help guide Elmatic in the coming years."
Advisory Roles
Cardiff-based Gambit Corporate Finance acted as lead advisor to the shareholders of Elmatic on initiating, negotiating, structuring and project managing the transaction. The Gambit team comprised Frank Holmes (partner), Cen Thomas (director), Sean David (executive) and Leo Crawford (analyst).
Mr Skalitzky added: "I would like to thank the team at Gambit for their role in advising us throughout the transaction. From the inception of the process to completion, their commercial experience and guidance was invaluable and they took a 'sleeves-rolled up' approach to supporting us every step of the way."
Mr Thomas, director at Gambit, said: "Elmatic is a great example of a leading industrial business with a strong family heritage and its acquisition by NIBE provides a strong platform for its future growth. We are delighted to have advised the shareholders of Elmatic with this landmark transaction."
Geldards provided legal advice to the shareholders and its team was led by Alex Butler, Mina Dimitrova (corporate) and Henry Bright (commercial property).
