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PreviousBaxi Holdings
In 2004 Electra invested £14.9 million in the buyout of Baxi Group. Through this investment Electra maintained an exposure to a business considered to have good long term growth potential.
Baxi is a significant manufacturer of heating products and is a leading supplier of domestic boilers. Turnover of the group is split approximately 67% in the UK and 33% in Continental Europe.
In July 2009 Baxi announced that it had reached agreement with De Dietrich Remeha Group to form a combined group with a leading position in the European heating market. This transaction completed on 30 October 2009. Pro forma 2008 turnover and EBITDA of the combined group, BDR Thermea Group, were approximately €1,700 million and €220 million respectively.
Baxi is a significant manufacturer of heating products and is a leading supplier of domestic boilers. Turnover of the group is split approximately 67% in the UK and 33% in Continental Europe.
In July 2009 Baxi announced that it had reached agreement with De Dietrich Remeha Group to form a combined group with a leading position in the European heating market. This transaction completed on 30 October 2009. Pro forma 2008 turnover and EBITDA of the combined group, BDR Thermea Group, were approximately €1,700 million and €220 million respectively.