Murray Capital has successfully exited its investment in Nu-Heat, led and managed by Bestport Capital.
February 2021
Nu-Heat, the UK’s leading underfloor heating company was sold to Polypipe Group Plc for £27m cash on completion.
Bestport led the management buy-out of Nu-Heat in May 2017 and since then, the company has seen strong sales and margin growth, and remained relatively resilient through the pandemic.
The sale generated a net return after all fees of 4.7x and an IRR of 60% for Murray Capital.
