Sentinel welcomes new owners
Published: 03 March, 2011
RUNCORN: Energy efficiency and water treatment expert, Sentinel Performance Solutions, has been acquired from US private equity firm The Riverside Company by Electra Partners for £43million.
Sentinel is a European market leader in the supply of water treatment products that improve the performance and energy efficiency levels of domestic and light commercial heating and hot water systems.
It was formerly part of GE until it was bought by The Riverside Company in 2005. Since then the company has grown its brand significantly, developing a strong track record in product development and has market leading positions in the UK, France, Italy and Germany. In the past twelve months, it has developed the European business, moving into Poland and Hungary as well as into the Benelux and Scandinavian countries. In addition it has opened up a major new operation in the USA which seems destined to be a major source of business in the next twelve months.
David Symondson, deputy managing partner of Electra Partners which has more than £900 million of funds currently under management and includes in its portfolio of companies BDR Thermea (formerly Baxi Group), Nu Aire ventilation products and motor insurer Esure, said: “We are delighted with this acquisition. Sentinel ticks all the right boxes: a well established brand with strong market position and potential for growth, run by an enthusiastic and highly successful management team.”
Gary Roebuck will continue to lead the business as chief executive officer and he says: “We are very excited about working with Electra and the opportunities it presents for developing the Sentinel business still further. We see opportunity particularly in other European markets and are actively seeking suitable acquisitions to help more quickly develop our position.”
The outcome of this deal will allow Sentinel to offer customers an enhanced and expanded set of product solutions as the company continues to develop new products and services under