Livingstone advises HeatUp Sverige on the sale to ELYDAN Group
Livingstone has advised the founders and owners of HeatUp Sverige AB (”HeatUp”) on its sale to France-based ELYDAN Group. Through the sale, HeatUp gains additional strength to continue its growth journey and geographical expansion while also contributing to strengthening ELYDAN Group’s market presence in its journey to becoming a leading player in the European energy sector.
Founded in 2018, HeatUp is a leading supplier of customized and prefabricated underfloor heating systems, tap water systems, and culvert systems. The company has rapidly grown into a well-regarded brand in the Swedish market and currently generates approximately $9.5 million in revenue, with offices in Stockholm, Gothenburg, Växjö, and Malmö.
”Thanks to this merger with HeatUp, ELYDAN Group strengthens its presence in Europe to establish itself as a leading European player in the energy sector. It will help expand our product range but also strengthen our network to support local stakeholders in their energy efficiency projects. Through its energy division, Endralis, ELYDAN Group aims to play a leading role by offering innovative and sustainable solutions for the construction and public works industries, addressing the challenges of the energy transition,” says Marc-Antoine Blin, President of ELYDAN Group.
The merger enables HeatUp to leverage ELYDAN Group’s distribution network across Europe to accelerate its own growth trajectory while integrating the group’s geothermal solutions into its existing product offering.
”We at HeatUp are very much looking forward to being part of the ELYDAN Group and are very happy for this opportunity. We have had a fantastic growth journey over the past six years in Sweden. Now, together with ELYDAN, we will take the next step in our development both in Sweden and also outside Sweden’s borders. With new product ranges and new colleagues, we are very much looking forward to what the coming years will bring for the development of HeatUp,” added Micael Wallquist, Chairman of the board and co-owner at HeatUp.
With over 60 years of experience, ELYDAN Group designs and manufactures a wide range of innovative, high-performance and durable products, specializing in the distribution and management of fluids. Today, the group generates approximately $216 million in revenue and consists of 400 employees with a presence in 50 countries worldwide.
”We would like to extend a big thank you to Livingstone for supporting us throughout our entire sales process. Livingstone has been highly professional every step of the way, and we have felt very confident having them as our advisor,” says Micael Wallquist, Chairman of the board and co-owner at HeatUp.
Livingstone’s team hereby completes another transaction in the industrial sector, following the sale of Broddson to Duroc, the sale of SKAB-Gruppen to Pamica, and the sale of Trejon to Salix Group.
