Xtratherm buys £12m hub
Xtratherm, the manufacturer of insulation products, has announced it is to acquire its main manufacturing and distribution centre in the UK at Holmewood, Chesterfield. The company received about £12m of funding from Santander Corporate Banking to close the deal.
Xtratherm is the UK manufacturing arm of Irish group Leanort. The company supplies insulation solutions to construction companies across Europe from the Chesterfield base.
Commenting on the acquisition, Jay Hynes, director at Xtratherm, said: "We are delighted to have completed the purchase of our Chesterfield site. Xtratherm employs 115 staff at the site and the acquisition of the premises is a long term investment, highlighting our commitment to the site and the region."
Andrew Stobbart, relationship director at Santander’s South Yorkshire Corporate Business Centre in Sheffield said: "Xtratherm is a very established brand with a strong management team and a clear strategy for future growth.
"I am pleased that we have been able to support the acquisition of the Chesterfield site, whilst providing ongoing working capital facilities, bonding lines and asset finance."
HLW Solicitors in Sheffield acted as advisers to the bank in the acquisition.
