London Stock Exchange welcomes Stelrad Group PLC to the Main Market

London Stock Exchange welcomes Stelrad Group PLC, a leading specialist manufacturer and distributor of steel panel radiators in the UK, Europe and Turkey to the Main Market of the London Stock Exchange trading under the ticker symbol SRAD.

The origins of the Group date back to the 1930s and Stelrad enjoys long established commercial relationships with many of its customers, having served each of its top five customers for over twenty years.

The Group is headquartered in the United Kingdom, and has been a leading supplier across Europe for over twenty years, with manufacturing and distribution facilities in the United Kingdom, Netherlands and Turkey, additional distribution facilities in Poland and Denmark and sales personnel in seven other countries, including China.

The Group operates across six core geographies: UK, Benelux, Germany, France, Turkey and Poland and collectively, the total addressable market across these geographies has an estimated value of £1,100 million, and equates to approximately 24.4 million radiators.

Following its admission to the Main Market of the London Stock Exchange, Stelrad Group PLC’s focus remains on exploiting the breadth of organic and inorganic growth opportunities on offer, continuing to focus on further improving our extensive product offering and the strong relationships it has with major distributors and specifiers.

Quick facts

Track
Market: Main Market
Instrument market cap (£m)
273.81
Listing/Admission to trading
04 Nov 2021

Trevor Harvey, Chief Executive of Stelrad, commented:

"We are thrilled that Stelrad’s unique business proposition has resonated so strongly with investors, and are delighted to have received such a high level of demand for the Placing.

Our successful growth strategy has been built upon a combination of standardised product design across all our manufacturing facilities, a key focus on specifiers across all of our end-markets and continued range innovation, alongside our multi-brand strategy that enables products and brands to be tailored to specific channels. As a result, we are the number one steel panel radiator business in a number of the markets where we operate.

The listing of Stelrad on the Main Market of the London Stock exchange reflects not only the success that we have enjoyed to date but also our confidence in our ability to deliver further upside as part of our growth plan as we continue to play a leading role in keeping Europe warm.”

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