Mon, 21 Jul 2025 | BUSINESS SALE
A Hampshire-based manufacturer of heat exchangers has been acquired by Swedish group Bergman & Beving. H C Coils designs and manufactures heat exchangers and finished products used across a wide array of industrial and commercial applications, ranging from data centres to agriculture.
The company, which is based in Fareham, has over 70 employees and generates annual turnover of more than £10 million. It will now join Stockholm-based Bergman & Beving (B&B), a listed group comprising 35 companies operating in more than 25 countries and with a combined annual turnover of around £380 million.
The deal was overseen by Westgate Advisers, with Westgate’s Daniel Kirtley describing H C Coils as “a best-in-class business that has been taken from strength to strength under the exiting shareholders.”
He added: "It is always satisfying to find a new owner with a track record for continuing to build on existing strengths over a long term, getting the best outcome for the sellers and for the business."
Mats Gullbrandsson, head of B&B's core solutions division, called H C Coils “a niche producer of bespoke coils on the UK market”, with “an efficient and flexible production process and produces made-to-order, customer-adapted products.”
He continued: "This, combined with their short delivery times and high standards of quality and service, distinguishes H C Coils in the market and is something that is highly valued by its customers."
H C Coils founder-shareholder Paul Galloway said that it was time for him to hand the business to a new owner after more than 40 years of ownership, adding that he was impressed by B&B’s “extensive experience and decentralised culture.”
Galloway continued: "With B&B's ownership approach, there are strong prerequisites for achieving success, and I am convinced I have found the appropriate owner for H C Coils."
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