Glen Dimplex acquires majority shares in Thermofilm

The Glen Dimplex Group has announced its acquisition of majority shares in Thermofilm Pty Ltd.

Thermofilm has over 30 years’ experience in the outdoor heating category. Based in Dandenong South, Victoria, the company produces and distributes a range of “Heatstrip” outdoor radiant heating products – both electric and gas. They also developed the “CrossRay” barbeque with patented infrared technology.

Founded in 1973, Glen Dimplex is a global manufacturer of electrical heating products. The company specialises in domestic appliances, cooling, ventilation, and renewable energy solutions.

“GDA has grown rapidly inside the house over the past decade,” says Glen Dimplex Australia (GDA) CEO Dave Woodward. “However, we have had aspirations for the outdoor room for many years also. The market leading technologies that Thermofilm have developed over several decades, coupled with their premium positioning, complements our existing brands very well.

“We will now be able to expand our offering to retail partners, specifiers and architects and volume home builders to include the outdoor room. Bob Reynolds, Steve Carrol and 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.”

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.

Says Thermofilm founder Bob Reynolds: “I am excited by the potential and synergy of this transaction with the Thermofilm brands now providing Glen Dimplex entry to the outdoor lifestyle market and adding to their portfolio of world leading products.

“Meanwhile, Thermofilm will have the enormous benefit of access to new markets, new channels and the worldwide 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.”