Danish group acquires Stockport HVAC business

Stockport heating, ventilation and air-conditioning (HVAC) business, Gradwood, has been sold to Danish investors, IPO Capital Group, for an undisclosed sum.

Established in 1966, Gradwood provide Industrial Heating, Workshop Heating, Air Conditioning and Smoke Ventilation systems and maintenance contracts for industrial and commercial settings across the UK. Following the sale to IPO Capital Group, Gradwood’s existing shareholders will stay on to run the firm during the transition period.

Benn Longshaw of Sedulo Corporate Finance led the transaction for the vendors, with legal representation from Benjamin Dredge and Ali Iqbal of CG Professional. Close Brothers provided funding support to the transaction.

Gradwood’s Tony Davies said:

“We’re really proud of what we’ve achieved at Gradwood, so it was vital for us to find buyers who we can pass the legacy on to with the best interests of the business at heart.

“We’ve found this in Yusufa and the team at IPO Capital Group, so a heartfelt thanks to Benn and his team at Sedulo for sourcing a fantastic buyer and guiding us through the process of moving on our company from start to finish.”

Sedulo’s Benn Longshaw said:

“Whilst deals like this can always be tricky, it was genuinely a pleasure to work with the shareholders Nick and Tony, as well as the Founder of IPO Capital Group, Yusufa Sey, to get the deal over the line.

“I’m looking forward to seeing how Gradwood progresses and best of luck to everyone in the future.”