I am delighted with the completion of the sale to Joule. The group has grown considerably in recent years, and this acquisition provides great synergies for both businesses. I’m sure the R M Solar Group will continue to see impressive growth under the ownership of Joule.
Richard Marsden Exiting Shareholder, Joule Group
Advising on the acquisition of Joule Group Limited
Our Deal Advisory has advised R M Solar on the acquisition of Joule Group Limited.
Acquisition made by R M Solar group of companies (the “R M Solar Group”) of Joule Group Limited (“Joule Group”)
R M Solar Group, based in Castleford, West Yorkshire, manufactures high quality water storage solutions for merchants and housebuilders. The group of companies has turnover of more than £30m and employs more than 130 people.
Joule Group is headquartered in Dublin, and is a provider of complete renewable heating systems and hot water solutions. The transaction is a strategic acquisition for Joule, providing it with a cylinder manufacturer based in the UK. Joule is majority owned by Inventum Beheer B.V, the Dutch manufacturer of hot water and ventilation systems.
This has been a great deal to work on and we are delighted to achieve a successful outcome for the shareholders of the R M Solar Group. It is clear to see the benefits that this acquisition will provide both companies, with this being a strategic acquisition that enables Joule to enter cylinder manufacturing in the UK market. It is encouraging to see the continued investment in the region, with strong performing regional businesses able to attract investment from overseas acquirers.
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