Calor announces joint venture with Hamilton Gas Products in Irish market

Calor, Ireland’s leading supplier of LPG and rural energy solutions has today announced a joint venture with Hamilton Gas Products, Bangor a leading supplier of domestic appliances in the United Kingdom and Ireland.  The strategic agreement will see Calor purchase 50% of the shares of Hamilton through a capital investment in the company.

The new joint venture will see Calor and Hamilton Gas Products run as separate businesses, with the two brands promoting appliances via the Hamilton website and Calor’s dealer network.

Revenue in the Irish domestic appliance market grew to €766 million in 2011 compared to €748 million in 2010, an increase of 2% year on yearⁱ.  Hamilton’s has seen turnover grow continuously over the last number of years despite the difficult economic environment.

Commenting on today’s announcement, Michael Kossack, CEO, Calor said, “We are excited to have the opportunity to join Hamilton’s Gas Products in a joint venture, a company that is long established and well regarded both domestically and internationally.  The transition should be smooth, as we have been cooperating with the Hamilton team for nearly four decades.

It is consistent with the Group’s overall objective to expand its offering to both domestic and commercial customers through the right strategic agreements, which will benefit all parties.  The transaction will further bolster Calor’s capability as Ireland’s leading provider of off-grid energy and heating solutions.  We look forward to working closely with our new colleagues at Hamilton’s to leverage the exciting potential we both envisage for our businesses.”

Alastair Hamilton, CEO, Hamilton Gas said, “We are delighted to be combining forces with Calor, a company with a strong heritage in Ireland but an international footprint.  This is an excellent development for Hamilton’s and our clients.  The deal will bring together two like-minded and innovative businesses whose operations are very complimentary and whose combined experience and expertise will create real added value.”

Calor’s turnover in 2011 was €140 million. The company employs 258 staff in 6 sites located throughout Ireland and a further 200 indirectly.  Calor was established in 1937 and is the leading supplier and distributor of LPG (Liquefied Petroleum Gas) in Ireland. Calor is owned by SHV Energy, the largest dedicated global LPG distributor in the market. SHV Energy operates in 27 countries and supplies LPG to tens of millions of customers worldwide.

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