Industrial Products

Nuheat Industries Limited

Provider of high-performance in-floor and external radiant heating systems.

Transaction Overview

  • Advised Fulcrum Capital on the sale of Nuheat Industries Limited (“Nuheat”), a portfolio company of Fulcrum Capital Partners, to Pentair.
  • Nuheat is well-known for its innovative technology and providing customers with reliable, customized, and high-performance floor heating systems, including North America’s first Wi-Fi enabled floor-heating thermostat. The company also distributes a complementary line of outdoor freeze protection products.
  • Pentair plc operates as a diversified industrial manufacturer in the energy, food & beverage, industrial, infrastructure, and residential & commercial end markets.

Key Observations

  • With a 4,000-point distribution network across the U.S. and Canada, the incorporation of Nuheat into Pentair’s portfolio of floor heating and freeze protection technology will enable Pentair’s Thermal Building Solutions to provide floor heating products to more customers in North America.

Drivers of Interest

  • Leading North American market position and technology.
  • Best-in-class brand recognition.
  • Growing network of distributors.
  • Highly scalable business model.
Hennepin Partners LLC