Maven has led a management buyout of Elite KL, a leading provider of heating, ventilation, air conditioning (HVAC), and thermal management solutions to enable the company to accelerate its growth strategy. Since receiving private equity backing, the business has made several key appointments to strengthen its leadership team, including David Roberts (former CEO of Nu-Heat) as Chair, Frank Duffin (former CFO of John McGavigan) as Non-Executive Director, Kim Wigley as Financial Controller, and Daniel Jackson as Director of Business Development.
The business has also announced its rebranding as Calatherm, reflecting its increased focus on sustainable energy technology solutions. ‘Cala’ is derived from the Greek word for fortress, symbolising strength, resilience, and protection, while ‘Therm’ relates to thermal energy, reinforcing the company’s core expertise. The rebrand includes a new corporate identity, a set of values, and a website.
Originally founded in 1939, the West Midlands based business has built a strong reputation for delivering high-performance thermal management solutions to Tier 1 clients such as JCB, Morgan, Ravo, and Northern Rail across the UK, Ireland, Europe, and Australia.
Calatherm operates from its wholly owned 40,000 sq. ft. facility in Tamworth, supporting full-cycle product development from design and validation to supply and aftercare. With an increasing focus on green energy technology, the company is developing zero-emission vehicle technology and sustainable heating and cooling solutions across industries such as automotive, rail, and construction.
The clean energy technology sector is valued at more than $700 billion and is expected to rise to more than $2 trillion in the next decade (Source: IEA), and Calatherm is well positioned to play a critical role in the transition to EV and hydrogen fuel cell-powered vehicles.
"Calatherm is an established and growing business with a strong heritage in developing thermal management solutions. We are confident that, under the guidance of the new leadership team and with increased focus on delivering sustainable technologies across critical industries, Calatherm is well positioned to capitalise on the positive market dynamics driving the green energy transition."
Andrew Muirhead, Senior Investment Manager at Maven
"This is more than just a rebrand - it’s a transformation that reflects our new beginnings under private ownership. We are building on over 80 years of engineering expertise to deliver cutting-edge thermal solutions for electric and hydrogen vehicles, playing a vital role in the global transition to clean energy. Since becoming independent, we have sharpened our focus on innovation, sustainability, and customer-driven solutions. With strong financial backing from Maven, embedded customer relationships and an ambitious leadership team, we are excited to drive the next phase of our journey as Calatherm."
Mark Holmes, CEO of Calatherm