Bolton-based electric-heating specialist Heatrod Industrial has acquired Wellingborough-based GrayBar Ltd, a manufacturer of products for the rail industry. Heatrod is part of Nibe Element (the world’s largest heating-element manufacturer) and represents Nibe in the UK. The acquisition will become part of the Nibe Rail group, working closely with the team at Denmark-based San Electro heat, one of Nibe’s specialist rail divisions. Graybar commands annual sales of circa £1.2m and a regular operating profit of 10%. The company collaborates closely with Network Rail and leading contractors.
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