HVAC distributor, the BSS Group has acquired Birchwood Products for 18.4m.
The firm's announcement on March 3 said the £18.4m purchase price may rise by as much as £3.7m in the next three years.

Birchwood, a specialist distributor of heating and ventilating products, has a distribution centre in Nottingham which supplies more than 6,000 distributors.

In the year up to October 31 2007, Birchwood's turnover was £22.3m, with an operating profit of £1.8m.

Birchwood's senior management Anthony Smith, Paul Swanwick and Paul Simpson will remain with the business.

BSS's group chief executive, Gavin Slark, said: 'Birchwood is a high quality business that significantly enhances our product offering within the group's specialist division. This business has substantial growth prospects'.