Brand K Group, a leading supplier of radiators and bathroom equipment to independent merchants and showrooms, has recently completed the acquisition of Lincolnshire-based Paladin Radiators in a substantial seven-figure deal. This acquisition represents the seventh addition to Brand K Group’s portfolio within the last five years, further solidifying their position as a key player in the HVAC and bathroom sector in the UK.
Under the terms of the deal, Paladin Radiators will continue to operate under its current branding, with shareholders Dean Chughtai and Gareth Charles remaining at the helm to drive its growth. Paladin Radiators specializes in producing traditional cast iron radiators, proudly assembled and finished in Britain from their dedicated foundry. Founded 30 years ago in the hamlet of New York, the company now employs 26 dedicated individuals.
Brand K Group, established by Alex Norford in 2008, is headquartered in Bedford with operations across various locations in the UK including Wigan, Leeds, Willenhall, Hull, and Tewkesbury. With a workforce exceeding 750 employees, the company boasts an annual turnover exceeding £163m. Kartell UK, the flagship company within Brand K Group, remains the primary distributor of radiators and bathroom fixtures under the K-RAD and K-VIT brands.
Speaking on the acquisition, Alex Norford, CEO of Brand K Group, expressed his enthusiasm, stating, “I am delighted to welcome Dean, Gareth, and their team to the group. We are excited to enhance our offerings in the heritage and design-led home improvement sectors by acquiring one of the most respected brands in the UK radiator market.”
Dean Chughtai, one of the shareholders of Paladin, shared his satisfaction with the company’s growth trajectory under their leadership, saying, “When Gareth and I took the reins at Paladin, we envisioned growing an innovative business delivering top-quality products to consumers while maintaining a strong presence in the professional market. Thanks to the exceptional team at Paladin, we have achieved these goals.”
Gareth Charles, another shareholder of Paladin, added, “With Brand K Group, we have found the perfect fit for Paladin. The expertise of Alex and his team in the UK radiator market presents a great opportunity for Paladin to expand and thrive. We are grateful to the Paladin team for their dedication in achieving significant growth.”
Corporate finance advice for the acquisition was provided by Harry Walker and Fahim Kassam from Dow Schofield Watts (DSW). Harry Walker, a partner at DSW, emphasized the significant growth achieved by Brand K Group through its strategic acquisitions, welcoming Paladin as a valuable addition to the company’s portfolio of British manufacturing brands.
Legal counsel for Brand K Group was provided by a team from Fladgate led by Cem Usten and Ravi Goonesena, with financial due diligence handled by Paul Kithoray of Cortus Advisory. Shareholders of Paladin were supported by Andrew Heeler and the legal team at Hegarty Solicitors, with financial support from Mark Bradshaw of Streets Accountants. Shawbrook Bank facilitated increased facilities for Kartell’s acquisition of Paladin, with advice from Shoosmiths LLP led by Jon Bew.
