A West Midlands water and heating systems manufacturer has been bought out which has allowed its founders to exit the business.
Redditch-based Mikrofill was founded in the mid-1990s and specialises in producing pressurisation units for sealed system control, commercial grade boilers and water heaters.
It has been acquired in an undisclosed deal with Oxfordshire outfit Stuart Turner which turns 115 this year and is a manufacturer of domestic and industrial water-boosting pumps and systems.
Private equity firm LDC backed the management buyout of Stuart Turner in 2017 to help the business target further growth in the commercial pumps sector and support international expansion.
It has since acquired three complementary businesses following deals to buy out Fluid Water Solutions in 2019 and GAH Heating the previous year, with additional funding provided for this latest deal.
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The acquisition of Mikrofill will significantly expand its range of products and services and, following the deal, Mikrofill will continue to operate as an independent entity but as part of Stuart Turner.
The transaction also provides an exit for Mikrofill’s founders Roger and Pat Cherrington.
Mr Cherrington said: “After 25 years of dedication, fine tuning our products and building a strong reputation in our market, the time has come to move the company along to the next level.
“In Stuart Turner, we see fantastic opportunities to become part of a bigger picture. I am sure the brand will continue to go from strength to strength and enter new markets.
“I wish all of the teams involved the greatest success and will be watching with interest.”
Stuart Turner’s chief executive Richard Harden added: “We are constantly exploring opportunities that can further enhance our market leading services.
“Mikrofill is an established leader in the pressurisation and hot water generation market so this acquisition plays a key role towards our goal of providing a complete heating and water powering solution.”
Banking facilities were provided by Barings and Stuart Turner was advised by Gateley and Orbis.