RWK Goodman advises Heatrod Elements Limited on acquisition of Backer Electric Company Limited
RWK Goodman has advised NIBE Group's UK subsidiary, Heatrod Elements Limited on the acquisition of the business and assets of Rotherham-based Backer Electric Company Limited, a manufacturer of heating elements founded in 1938. The acquisition strengthens Heatrod’s position in the heating element market and continues its strong growth over recent years.
Backer Electric supplied products in high volume to many household brands, producing domestic electrical appliances, spares to distributors and specialist elements for use in industrial, catering and commercial applications.
Backer Electric was founded by Christian Backer, born in 1885 in the small village of Flisa, Norway. Christian Backer patented the modern day tubular heating element back in 1921. He founded Backer Electric in the UK in Rotherham in 1938 and established Backer AB (now part of the NIBE Group) in Sweden after World War II. The two businesses remained separate until December 2023.
The NIBE Group is a leader in the global energy markets sector whose operations extend around the world in the form of over 120 group companies employing over 17,000 people. Businesses in the group range from the manufacture and supply of climate solutions and heating elements to energy-efficient stoves for various heating needs. Each of the NIBE Group’s operations is underpinned by the same commitment to providing first-class sustainable energy solutions.
Heatrod Elements Limited is part of NIBE Element, the world’s largest heating element manufacturer, and represents NIBE in the UK.
Simon Ellam, Managing Director of Heatrod comments: “The NIBE Element group shares its roots with Backer Electric and many of our manufacturing sites across the world carry the Backer name. To bring such a wealth of history and knowledge back together is a proud moment for all of the team at Heatrod and the wider NIBE Element Group.”
Simon Ellam adds: “The team at RWK provided practical advice and support on a wide range of commercial and human resource related legal issues during this acquisition. Successful completion was of upmost importance and John, Bharti and the team played a key role in helping to navigate a delicate process between all parties involved.”
RWK Goodman’s team was led by Corporate Partners John North and Bharti Moore, alongside colleagues William Bartoli-Edwards (Corporate) and Holly Freuchen (Employment).
John North, Partner in RWK Goodman’s Corporate team, comments: “The NIBE Group is a long-standing client of RWK Goodman, we have been advising on its UK and international acquisition programme. It was a delight to work with the team at Heatrod Elements again as their company continues to grow.”