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KORADO, a leading European producer of heating radiators, acquired a 100% share in LICON HEAT s.r.o., a leading Czech producer of convectors

Sector
Production of convectors
Target company
LICON HEAT s.r.o.
Seller
Founders family
Buyer
KORADO a.s.
Our role
Advisory to sellers
Transaction size
Undisclosed
Year
2013

Originally a family-owned and managed LICON HEAT manufactures convectors under the Licon brand. Its product portfolio includes in-floor, on-floor, wall-mounted, and façade convectors and heat exchangers. A company with a more than 50-year tradition of manufacturing convection units built a brand-new manufacturing facility in Liberec in 2009.

KORADO ranks among the leading European producer of steel, bathroom and design radiators. The company, established in 1965, has delivered its radiators to customers in more than 45 countries. In addition to the Czech Republic, the company has a manufacturing facility in Bulgaria and trading subsidiaries in Germany and Poland. Thanks to the acquisition of LICON HEAT, KORADO will be able to offer a broader product portfolio while securing sufficient manufacturing capacity at the same time.

Merger Vision provided complete M&A advisory to the founding family of LICON HEAT during the bilateral negotiations with the buyer.

  • I engaged Merger Vision after I had known Mr Mareš for several years. He kept me informed of several potential investors for our family business. At the same time, I considered it a significant advantage that he had a long-term personal relationship with the shareholders of KORADO, which approached us as a potential buyer. Merger Vision helped us negotiate critical terms of the transaction to our great satisfaction.

    Martin Kniha, LICON HEAT s.r.o.

    shareholder and CEO

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