Ethos Partners takes part in MBO of Nu-Heat UK Limited - Ethos Partners

The management buyout of specialist under floor heating (UFH) contractor Nu-Heat was completed in May 2017.

Nu-Heat is one of the UK’s largest suppliers of warm water underfloor heating and integrated renewable solutions. The Company delivers fully designed, energy efficient systems to installers, housebuilders, contractors, architects and self-builders nationwide. Nu Heat has a strong growth record and is the market leader in UFH for retrofit into existing homes and was acquired with c. £15m revenue, EBITDA earnings of over £1.5m and over 100 employees.

High net worth investors of Ethos Partners (“Ethos”) and Bestport Private Equity participated in the equity funding and together with a unitranche debt facility from Beechbrook backed the management team to acquire the business for £8m from its founder shareholders.

The MBO team is led by David Roberts, CEO with Ian Jeacock, FD, and Mark Millett, Operations Director. Ashley Levinson assisted the team throughout the MBO process and stays on as Chairman to see the business through the growth phase ahead.

Ole Bettum, of Bestport Private Equity, led the transaction and he has joined the board following the buy-out.

Julian Carr, Ethos Partners Principal said: “Nu-Heat is a great example of a business in an attractive niche where it is possible to engineer succession and exit for its founders; and to support its growth into an institutional grade asset with more scale which is attractive to midmarket private equity or trade purchasers”

Responsible Investing
At Ethos Partners, we wholeheartedly embrace responsible investment principles. Our commitment is to integrate sustainability factors into every aspect of our investment strategy and decision-making, recognising the profound impact these considerations have on long-term financial performance and the well-being of society. We recognise that responsible investing is a fundamental driver of sustainable value creation. Our approach not only seeks financial success but also aims to make a positive and lasting contribution to the world. By aligning our investments with responsible principles, we strive to deliver value to our investors and to the broader community.

Giving Back
We are deeply committed to giving back to the communities in which we operate. Ethos Partners supports various charitable initiatives that align with our values and mission. By dedicating a portion of our resources to charitable causes, we aim to make a meaningful impact and contribute to the betterment of society.

Diversity & Inclusion
We believe that diversity and inclusion are essential for innovation and long-term success. Ethos Partners is committed to fostering a diverse and inclusive workplace and investment community. We recognise the importance of diverse perspectives and experiences in driving excellence and ensuring equitable opportunities for all.

Ethos Partners LLP is authorised and regulated by the Financial Conduct Authority (No 813812) Registered in England and Wales OC420647.
Registered Office: Ethos Partners LLP, 1 Earlham Street London WC2H 9LL.

Risk warning: Investing in private businesses and/or equity and debt investments involve risks, including illiquidity, lack of dividends, loss of investment and dilution, and it should be done only as part of a diversified portfolio. Ethos Partners is exclusively for Professional, Certified High Net Worth Investors and Self-Certified Sophisticated Investors who understand these risks and make their own investment decisions. Investments can be made only on the basis of information provided in each respective investment opportunity supplied by the company. No reliance should be placed upon the information placed upon this website and Investors should seek their own professional financial, tax and legal advice before making an investment decision. Investments that offer Tax relief depend upon an individual’s circumstances and may change in the future. In addition, the availability of tax relief depends on the company invested in maintaining it’s qualifying status. Investors should seek appropriate tax advice before making an investment decision. Past performance is not a reliable indicator of future performance. You should not rely on any past performance as a guarantee of future investment performance.