Glen Dimplex acquires Applied Energy

Effective 10th October 2007, The Glen Dimplex Group are proud to announce the acquisition of UK Electrical Heating Business Applied Energy.

Applied Energy provides solutions for heating, air and water management to new build, social housing, leisure, care, commercial and industrial markets in the UK and Export Markets. The company has a significant share of the UK market under the well-known brands of Creda, Redring and Xpelair.

New and evermore stringent building regulations across Europe are increasing the requirement for air extrusion/ventilation and heat recovery systems. As part of its strategic plan, Glen Dimplex wants to grow and develop a significant business in this sector. The Xpelair business will provide Glen Dimplex with the foundation to grow its presence in this sector.

Glen Dimplex intends to operate Applied Energy as a stand-alone business, under its current management team, with business as usual.

Founded in 1973, Glen Dimplex is privately owned with sales revenue of $1.5 Billion and 8,500 employees. Glen Dimplex is the world’s largest electrical heating business, holding significant market positions in the domestic appliance industry worldwide.

For more information on this latest acquisition please visit http://www.applied-energy.com