Lincolnshire-based manufacturer Paladin Radiators has been acquired by Brand K Group for a seven-figure sum, marking the business’ seventh acquisition in five years.
Brand K Group was first established in 2008, and now sees an annual turnover of £163m per year. The first brand to join its portfolio was Kartell UK, however, since 2019, the group has acquired a series of UK-based manufacturers, including Just Trays, Vogue UK, Summerbridge and MX Group.
According to the company, the acquisition of Paladin Radiators marks a further step towards its ambition to become an industry-leading brand in the UK’s HVAC and bathroom sector.
Paladin Radiators was first founded 30 years ago, and supplies cast iron radiators direct to retailers and installers. All of Paladin Radiators’ products are assembled and finished in the UK, and the company has its own dedicated foundry.
Following the acquisition, Paladin will continue to operate under its existing brand, and the business’ current shareholders, Dean Chughtai and Gareth Charles, plan to remain with the company to continue its growth.
Alex Norford, chief operating officer of Brand K Group said he was delighted to welcome Chughtai, Charles and the rest of the Paladin team under the Brand K umbrella. He continued: “We’re excited to have acquired another of the most respected brands in the UK radiator market and to expand further our offering to the heritage and design-led home improvement sectors.
“Paladin is a business that combines the best of traditional design and innovation in a single product range; we’re looking forward to helping them continue their growth story.”
Paladin Radiator’s turnover has reportedly doubled since Chughtai and Charles acquired the business from its original founders in 2017. Dean Chughtai explained: “When Gareth and I first began leading the Paladin business, we saw an opportunity to grow an innovative business delivering quality products direct to consumers, whilst also being well-respected by the professional market.
“Thanks to the team at Paladin, we’ve achieved all of that and are very pleased to see the business well-positioned to continue on its path of success moving forwards.”
Gareth Charles added: “In Brand K Group, we’ve found the perfect home for Paladin. Alex and his team have a deep understanding of the UK radiator market and offer the business a great opportunity to expand and develop even further.
“Dean and I are grateful to the team at Paladin for their hard work in more than doubling the turnover of the company during our tenure and we are personally very pleased to see this investment supporting the continued growth of this customer-focused business.”
