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.
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.
AdvertisementSources 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.
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Stelrad is owned by Bregal Capital, whose investment in the business is managed by EMK Capital, another London-based investment firm.
A spokesman for Bregal’s owner, Cofra, declined to comment.
