Montagu Private Equity has today agreed to sell Caradon plumbing, a leading pan-European heating group to Warburg Pincus in a transaction valuing the business at £227 million.

Caradon Plumbing's brand portfolio includes Ideal Boilers, Stelrad Radiators, Henrad and Termo Teknik. 

This transaction marks the final disposal from Montagu's £496 million acquisition of the plumbing division from Novar plc in October 2000. Prior divestments include the 2001 sales of Caradon Bathrooms to Finnish Sanitec Corporation and Mira Showers to US-based Kohler Corporation for £82 million and £301 million, respectively.