The Glen Dimplex Group has acquired Cadet Manufacturing, a privately owned heating products manufacturer. The sale will close later this fall.
The company said that Cadet will retain its name for the foreseeable future, maintain its headquarters in Vancouver and continue to be overseen by its existing management team. Cadet founder and current CEO, Dick Anderson, will continue with the company in a consulting role. Cadet’s current president, Hutch Johnson, who has been with the company since 1998, will be promoted to CEO.
“We are proud to welcome Cadet to the Glen Dimplex family,” said Fergal Naughton, Glen Dimplex CEO. “As a group we are focused on putting our employees and customers first, and this emphasis will continue for Cadet.”
Naughton noted that adding Cadet to the Glen Dimplex roster will allow the global company to expand its services beyond its current scope. Glen Dimplex currently owns another electric heat manufacturer, Dimplex North America, based in Cambridge, Ontario, which manufactures many additional products that Cadet will take to market, the company said. Cadet’s assortment includes wall heaters, baseboard heaters, garage and utility heaters as well as thermostats for consumer and commercial applications.
“The synergies between Cadet and Dimplex North America will greatly enhance our ability to support our customers in North America,” said Naughton. “We strongly value Cadet for its future place in our organization, and for the additional sales strength it will provide us for exploring new opportunities and markets. The acquisition of Cadet is an important step in our ambition to be a major player in North America.”