Harleston Group Acquires Heat Merchants and Tubs & Tiles
The trade and assets of Heat Merchants and Tubs and Tiles have been acquired from the High Court-appointed Liquidator of BHT Group by Harleston Group, the parent company of Hevac Ltd, for an undisclosed sum.
Of the 36 Heat Merchants branches throughout Ireland, 32 will be acquired, while 12 of the Tubs and Tiles branches will be acquired. Each branch will continue to trade as normal. Seamus English, Managing Director of Hevac said: “The acquisition of these businesses is welcome for several reasons. In effect, it saves and recapitalises two well positioned businesses which have been stressed for some time because of an onerous debt burden. It also adds strong networks and well-regarded brands to the Harleston Group.
“Harleston Group is a long-established company and we understand these businesses and the markets in which they operate. We intend to strengthen and develop the businesses in the medium to long term. We look forward to working with management and staff to address the challenges and revitalise Heat Merchants and Tubs and Tiles.”
Customers who have deposits with Heat Merchants and Tubs and Tiles (the acquired businesses) will have their deposits honoured by the new owners.