Calatherm Leads Green Transition Post-Maven Buyout
Deal News | Mar 12, 2025 | Business Cloud
Maven Capital Partners, along with Ethos Partners, has acquired Elite KL, a heating, ventilation, air conditioning, and thermal management solutions provider, in a management buyout. Under the new ownership, the company has been rebranded as Calatherm and will focus on accelerating its growth strategy. Originally established in 1939, Elite KL has served high-performance thermal solutions to Tier 1 clients like JCB, Morgan, and Northern Rail. As part of its strategy, Calatherm has made key appointments, including David Roberts as chair and Frank Duffin as non-executive director. The firm will emphasize developing zero-emission and sustainable thermal technologies for industries such as automotive and construction. CEO Mark Holmes stated that the transformation reflects the company's new beginnings under private ownership. Maven's Andrew Muirhead expressed confidence in Calatherm's ability to capitalize on market trends in green energy technologies.
Sectors
- Thermal Management Solutions
- Green Energy Technology
- Private Equity
Geography
- United Kingdom – Calatherm is based in the West Midlands, UK, and focuses on providing solutions primarily within the UK and other regions.
- Australia – The company serves clients in Australia, among other nations, highlighting its international presence.
- Europe – Calatherm serves various European countries, indicating its operational scope.
Industry
- Thermal Management Solutions – The article discusses Calatherm, a company specializing in thermal management solutions across industries like automotive and construction.
- Green Energy Technology – Calatherm, under new ownership, focuses on sustainable energy solutions and zero-emission technologies.
- Private Equity – Maven Capital Partners, a private equity firm, has led the buyout of Calatherm, illustrating its role in the financial and strategic direction of the company.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Calatherm | Target Company | Company | Formerly known as Elite KL, the company specializes in thermal management solutions and is undergoing a transformation to focus on green technologies. |
| Maven Capital Partners | Bidding Company | Company | Private equity firm leading the management buyout of Calatherm. |
| Ethos Partners | Co-Investor | Company | Co-investor in the management buyout of Calatherm. |
| David Roberts | Chair | Person | Appointed as Chair of Calatherm, former CEO of Nu-Heat. |
| Frank Duffin | Non-Executive Director | Person | Appointed as Non-Executive Director of Calatherm, former CFO of John McGavigan. |
| Kim Wigley | Financial Controller | Person | Appointed as Financial Controller at Calatherm. |
| Daniel Jackson | Director of Business Development | Person | Appointed as Director of Business Development at Calatherm. |
| JCB | Client | Company | Tier 1 client of Calatherm. |
| Morgan | Client | Company | Tier 1 client of Calatherm. |
| Ravo | Client | Company | Tier 1 client of Calatherm. |
| Northern Rail | Client | Company | Tier 1 client of Calatherm. |