Glen Dimplex has acquired a majority shareholding in producer and distributor of premium outdoor heating and BBQ products, Thermofilm Pty Ltd.
This represents the fifth acquisition in five years for Glen Dimplex, following deals with Real Flame, Technika, Home Appliances and Pecan Engineering.
Based in Dandenong South, Victoria, Thermofilm has 30 years’ experience in the outdoor heating category, renowned for its award-winning Heatstrip electric and gas outdoor radiant heating products designed for residential, commercial, and industrial use in Australia and around the world.
More recently Thermofilm expanded into the BBQ category in 2018, launching the CrossRay BBQ with patented infrared technology.
Glen Dimplex Australia CEO, Dave Woodward outlined the synergies between the two companies and their complementary product portfolios.
“GDA has grown rapidly inside the home over the past decade; however, we have aspired for the outdoor room for many years also,” he said in a statement shared with Appliance Retailer.
“The market leading technologies that Thermofilm has developed over several decades, coupled with their premium positioning, complements our existing brands. We will now be able to expand our offering to retail partners, specifiers, architects, and volume home builders to include the outdoor room.
“Thermofilm founder, Bob Reynolds, general manager, Steve Carrol and national sales manager, Greg Trezise will continue in their existing roles. As with all of our earlier acquisitions we see this as a key success factor by retaining the unique DNA and experience that has made the business successful for so many years.”
Bob Reynolds said he is excited by the potential and synergy of the transaction with the Thermofilm brands now providing Glen Dimplex entry to the outdoor lifestyle market and adding to their portfolio of world leading products.
“Thermofilm has the enormous benefit of access to new markets, new channels and global Glen Dimplex distribution network. The team at Thermofilm are looking forward to the opportunity of working with Glen Dimplex to achieve outstanding results in this new venture.”
Thermofilm will remain a standalone trading entity for the next two years. Glen Dimplex has the option to buy the remaining shareholding at the end of this period.