KBS Corporate Finance Advises on the sale of Freedom Heat Pumps Limited
Freedom Heat Pumps Limited designs, supplies and supports ground and air source heat pumps, primarily working with merchants and installers on a national basis.
Freedom Heat Pumps Limited designs, supplies and supports ground and air source heat pumps, primarily working with merchants and installers on a national basis. Since the company’s inception in 2010, Freedom Heat Pumps Limited has experienced significant growth, developing into one of the largest heat pump distributors in the UK. They supply a range of brands and offer technical advice to installers in what is a rapidly growing market.
The shareholders of Freedom Heat Pumps Limited approached KBS Corporate with the sale of their business to enable the retirement plans of the majority of the shareholders. During initial discussions, it became apparent that sourcing a buyer that would ensure staff retention whilst enabling further growth of the business was of high importance.
The company proved popular with trade and private equity attracting numerous interested parties. These high levels of interest were used to generate a competitive offer environment resulting in five offers being produced. The ultimate offer came from UK trade buyer Certas Energy, a subsidiary of FTSE 100 company DCC plc. Certas Energy has been highly active within the acquisitions market having previously acquired multiple companies within recent months. The acquisition of Freedom Heat Pumps Limited will enable Certas Energy to strengthen its position within the sector whilst enabling further growth and development of the company.
Post-completion Managing Director, Chris Higgs, will remain with Freedom Heat Pumps Limited.
Tom Eatough, Corporate Director at KBS Corporate Finance, advised Freedom Heat Pumps Limited and commented: “I am really pleased we managed to reach a successful conclusion for our clients. Completing a transaction in the midst of a turbulent economic and political backdrop presented its challenges, but Freedom is a high-quality business in an exciting sector, and I am sure it will be a great success for both sides moving forward.”