AHT boosts growth with $14m finance contract

AHT established its presence in the British domestic and conservatory markets by using a national distributor network, which sells to the electrical and heating trade and the DIY market. Its products are also being marketed across Europe.

The company’s under floor heating system uses flexible heating mats that can be unrolled, like a carpet, making it easier to install. The product also works at a low temperature making it economical to run.

A growth in market share and flexible product features, useful for the conservatory market, led to the multimillion dollar deal. The system uses ribbons instead of wires, which cover about 30 per cent of the heating mat area. The mat is able to produce high levels of heat at low working temperatures.

The system’s low working temperature also means that it can be laid directly under most floor coverings. The finance company, Shamrock Israel Growth Fund, was founded in 1978 as an advisor to Roy E Disney, Director of Walt Disney Co, and a nephew of company founder, Walt Disney.

Mark Wilson of AHT in the UK said: ‘This private placement provides us with the resources to accelerate our growth in the UK and elsewhere. We are becoming the system of choice for a growing number of UK installers.’