ADEY agrees management buyout…

The MBO will enable ADEY to continue to grow.

The will enable to continue to grow.

ADEY Professional Heating Solutions, Europe’s largest water treatment manufacturer serving the domestic and commercial heating sector, has agreed a management buyout (MBO) as part of its continued growth in the UK and expansion internationally.

Led by ADEY’s chief executive officer, John Vaughan, with the full backing of the Board, the MBO has been conducted with the support and investment of LDC, part of the Lloyds Banking Group.

The multi-award winning firm pioneered magnetic filtration technology more than ten years ago, when owner, Chris Adey, invented the MagnaClean® filter. Since then, ADEY has continued to innovate, establishing a total system best practice approach and creating a family of products designed to clean, flush, maintain, protect and test heating systems.

The MBO sees members of the existing management team, with investment support from LDC, buy Chris Adey’s shares, with the company remaining privately owned.

Commenting on the buy-out, John said: “This investment marks the next chapter in our growth journey and will help us to achieve our goal of providing all our customers, in the UK and around the world, with the best possible preventative solutions in the heating systems market.”

“ADEY has innovation in its DNA, and we will continue to launch new products that assist heating installers to serve their customers’ needs with the most effective tools. More than three million MagnaClean® filters are installed in the UK, and the scope for more households, businesses and local authorities to benefit from our low cost energy saving products drives the Board’s ambition for continued growth.”

Currently supplying its products in the UK and mainland Europe, ADEY is planning to expand into new markets including the US, Asia and Eastern Europe