The Glen Dimplex Group is pleased to announce it has acquired a majority shareholding in Thermofilm Pty Ltd. Based in Dandenong South, Victoria, Thermofilm produce and distribute a premium range of "Heatstrip" outdoor radiant heating products – both electric and gas. In addition, they have developed the "CrossRay" bbq with patented infrared technology. With over thirty years' experience in the outdoor heating category they hold a premium position in this fast growing category.
Founded in 1973, Glen Dimplex is a leading international Group, the world's leading manufacturer of electrical heating, and also holds significant global market positions in domestic appliances, cooling, ventilation, and renewable energy solutions.
Thermofilm has over 30 years of experience when it comes to manufacturing stylish, innovative and energy efficient products. The extensive range of electric and gas outdoor heaters are designed for use within residential, commercial and institutional markets, both in Australia and around the world. Products within the Thermofilm range include the award winning HEATSTRIP heaters, BLISS heaters and CROSSRAY bbq's.
Thermofilm Pty Ltd will remain a standalone trading entity for the next two years. Glen Dimplex have the option to buy the remaining shareholding at the end of this period.
Glen Dimplex Australia CEO, Dave Woodward, outlined the obvious synergies between the two companies and their complimentary product portfolios. "GDA has grown rapidly inside the house over the past decade however we have had aspirations for the outdoor room for many years also.
The market leading technologies that Thermofilm have developed over several decades, coupled with their premium positioning, complements our existing brands very well. We will now be able to expand our offering to retail partners, specifiers and architects and volume home builders to include the outdoor room. Bob Reynolds, Steve Carrol and Greg Trezise will continue in their existing roles. As with all of our earlier acquisitions we see this as key success factor by retaining the unique DNA and experience that has made the business successful for so many years."
Thermofilm founder, Mr Bob Reynolds added "I am excited by the potential and synergy of this transaction with the Thermofilm brands now providing Glen Dimplex entry to the outdoor lifestyle market and adding to their portfolio of world leading products. Meanwhile, Thermofilm will have the enormous benefit of access to new markets, new channels and the world wide Glen Dimplex distribution network.
The team at Thermofilm are looking forward to the opportunity of working with Glen Dimplex to achieve outstanding results in this new venture."
Group CEO, Fergal Naughton
