BDR Thermea
Electra’s involvement with BDR Thermea began in 1997 when it provided finance to support the buyout of Newmond from Williams Holdings. It has continued to support the business through the acquisition of Baxi in 2000 and the secondary buyout by BC Partners in 2004 when Electra realised the majority of its investment, but reinvested £14.9 million. In October 2009 Baxi combined with De Dietrich Remeha, a Dutch business with complementary activities, to form BDR Thermea.
BDR Thermea is a leading manufacturer and distributor of heating and hot water systems and services, operating in more than 70 countries worldwide and employing over 6,400 people. The combined company is the third largest heating products business in Europe and is market leader in the UK, France, Germany, Spain, the Netherlands and Italy. On a pro forma basis, turnover in 2009 for the combined group was approximately €1.7 billion and EBITDA was €230 million.
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