WORLD – The well established boiler company, originally based in Yorkshire, is now under new French ownership.

In Bregal yesterday, Groupe Atlantic completed the acquisition of the company Ideal Boilers, based in Hull. The capital was transferred for an undisclosed sum.
Ideal Boilers, a firm of 500 employees and with a turnover of around £200 million has been a major employer in HULL for over a century now. It is the third largest company in the UK market for domestic wall boilers, with annual sales of around 300,000 units of the BOILERS brand. The French company Groupe Atlantic is a major European player in the field of heating, ventilation and air conditioning. It recorded revenues of nearly € 1 billion in 2014.

A spokesman from Groupe Atlantic declared “This acquisition will significantly increase the international activity of the group.”
“The UK represents half of the total European market for European domestic wall condensation boilers and is the largest market for commercial wall mounted boilers.”
“The UK is the fourth largest market for air-water heat pumps, a sector in which the Group Atlantic holds the leading position in France”.
“The acquisition of Ideal Boilers illustrates our international growth strategy and accelerates the consolidation of our multi-product and multi-energy line-up.”
“It demonstrates our commitment to become a significant player in the very promising market for wall mounted gas condensation boilers.”
Founded in France in 1968, the Groupe Atlantic has 4,500 employees and 17 production sites, including nine in France itself.

Mick Coppin, an officer of the GMB union, which has a large number of workers on site in Ideal Boilers announced that the risk in terms of employment is not of great concern because the business is economically viable.
Founded in Hull as the National Radiator Company in 1905, Ideal Boilers led the way in introducing cheap central heating in homes. Over the years, it has attracted a large number of royal visitors, including the Duke of Edinburgh in 1948. In 2013, the company received the Queen’s Award for Enterprise in the field of innovation.