Ashurst advised Bregal Capital on the sale of Ideal Boilers, a well-known UK boiler manufacturer, to French heating group, Groupe Atlantic. Groupe Atlantic is a leading French Hvac company and achieved sales of just under €1bn in 2014.

Ideal Boilers is a subsidiary of Ideal Stelrad, which was acquired in September by Bregal Capital for £230m. The business, which is now the third largest company in the UK market for domestic wall-mounted boilers, was established in 1905 as the National Radiator Company and has been a pioneer in boiler development. Ideal is headquartered in Hull and has a workforce of approximately 500 employees.

The Ashurst team was led by corporate partner David Carter, assisted by tax partner Alex Cox, senior finance associate Jacob Durkin, solicitors Madison Bird and Francesca Downes and trainee solicitor Jake Hadfield.