THERMAL EXCHANGE LIMITED
🌳Matureactive
02619819 · ltd · incorporated 1991-06-12
Investment thesis
Well-run mature business — low negotiation leverage; premium likely.
Why interesting: Textbook target; clean filings, stable trading.
Why risky: No pressure on seller; any deal likely at full price.
Opportunity decay
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
- · Oldest live charge 32.7y old — refinance window within 12 months
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Apr 2025
Net worth
£0
book net assets
Opportunity
78/100
Strong
What this business does
Primary activity: SIC 28990
Sector: Manufacturing
Investor take
PursueStrong opportunity: active trading company with strong profile and bankable structure.
Opportunity 78/100 (strong), bankability 85/100. Strong seller-intent signal (65/100, director aged 59). Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (73/100).
🏦
Refinance opportunity
4 live charges · 2 lenders · oldest 32.7y
70/100
ready
Refinance conversation should be productive — structure clean and timing right.
- · Oldest live charge is 32.7 years old — likely at or near maturity.
- · Two lenders — manageable, but coordination required.
- · Legal-friction score 15/100 — clean.
Data confidence
Overall: high (82/100)Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.
Company profile
address, 1 SIC codes, incorporation date
100
Financials
2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed
75
Lenders & charges
4 charges (4/4 with lender, 4/4 with type)
90
Directors & officers
11 officers (2 active, 11 linked, 8 with DOB)
85
Ownership & PSC
1 active PSC(s) of 4 total, 4 with control declared
90
Director network
11 connected companies via shared directors
78
Filing history
127 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
78/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
75
Strong succession / seller-readiness signals.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.
Key financials
2 years extracted from filed iXBRL accountsCash
—
Net Worth
£0
Current Assets
—
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · FRS 102| Metric | 2025-04-30 | 2024-04-30 |
|---|---|---|
| Net assets | £0 | £0 |
Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.
Recent activity
Last 30 days
1
filing
- • 1 officers
Last 90 days
1
filing
- • 1 officers
Last 180 days
1
filing
- • 1 officers
Counts from Companies House filing history.
Corporate timeline (47 events)Click to expand
- 2026-06-03📄termination-director-company-with-name-termination-dateofficers · TM01
- 2026-05-14➖PONIATOWSKI, Robert Tadeusz resigneddirector
- 2025-09-10📄accounts-with-accounts-type-unaudited-abridgedaccounts · AA
- 2024-10-03📄accounts-with-accounts-type-unaudited-abridgedaccounts · AA
- 2024-01-29📄termination-director-company-with-name-termination-dateofficers · TM01
- 2024-01-19➖CREEDON, Michael John resigneddirector
- 2023-10-04📄appoint-person-director-company-with-name-dateofficers · AP01
- 2023-09-29➕BROWN, Stephen Mark appointeddirector
- 2023-09-22📄accounts-with-accounts-type-unaudited-abridgedaccounts · AA
- 2022-09-25📄termination-director-company-with-name-termination-dateofficers · TM01
- 2022-09-21➖ABELL, Jonathan Paul resigneddirector
- 2022-08-30📄appoint-person-director-company-with-name-dateofficers · AP01
- 2022-08-17➕SHARMA, Amitabh appointeddirector
- 2022-08-10📄accounts-with-accounts-type-unaudited-abridgedaccounts · AA
- 2021-10-28📄accounts-with-accounts-type-smallaccounts · AA
- 2020-11-04📄accounts-with-accounts-type-smallaccounts · AA
- 2020-01-03📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC05
- 2019-12-31📄accounts-with-accounts-type-smallaccounts · AA
- 2019-08-05📄change-account-reference-date-company-previous-shortenedaccounts · AA01
- 2019-04-05📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC05
- 2019-04-01➕ABELL, Jonathan Paul appointeddirector
- 2019-04-01➕PONIATOWSKI, Robert Tadeusz appointeddirector
- 2019-04-01📄appoint-person-director-company-with-name-dateofficers · AP01
- 2019-04-01📄appoint-person-director-company-with-name-dateofficers · AP01
- 2019-03-07📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2019-02-01➖PERCIVAL, Joseph Bryan resignedsecretary
- 2019-02-01➖BYRNE, Patrick James resigneddirector
- 2019-02-01➕CREEDON, Michael John appointeddirector
- 2019-02-01➖GEISLER, Peter Hans resigneddirector
- 2019-02-01➖PERCIVAL, Joseph Bryan resigneddirector
- 2019-01-31🔓Charge satisfied #4
- 2019-01-31🔓Charge satisfied #3
- 2018-04-03🔒Charge registered #4Lender: Barclays Bank PLC
- 2018-03-29🔓Charge satisfied #2
- 2015-07-23🔒Charge registered #3Lender: Barclays Bank PLC
- 2015-04-10🔓Charge satisfied #1
- 2013-02-01🔒Charge registered #2Lender: Barclays Bank PLC
- 1994-06-15➕GEISLER, Peter Hans appointeddirector
- 1993-10-12🔒Charge registered #1Lender: National Westminster Bank PLC
- 1991-06-24➕PERCIVAL, Joseph Bryan appointedsecretary
- 1991-06-24➖MBC SECRETARIES LIMITED resignedcorporate-nominee-secretary
- 1991-06-24➕BYRNE, Patrick James appointeddirector
- 1991-06-24➕PERCIVAL, Joseph Bryan appointeddirector
- 1991-06-24➖MBC NOMINEES LIMITED resignedcorporate-nominee-director
- 1991-06-12🏢Company incorporatedAs THERMAL EXCHANGE LIMITED
- 1991-06-12➕MBC SECRETARIES LIMITED appointedcorporate-nominee-secretary
- 1991-06-12➕MBC NOMINEES LIMITED appointedcorporate-nominee-director
Owner dependency
66/100
High — earn-out structure requiredMaterial founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.
FACTORS
- +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
- +Senior director age: Director aged approximately 59 — approaching natural succession window.
Succession & seller-readiness
46/100
Moderate signalSome succession indicators present. Worth watching; approach if sector/strategy fits.
SIGNALS
- secondaryFounder aged 58+: Senior director is approximately 59. Early succession window.
- secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
Red flags
1 med ·Charge satisfaction-then-recreation pattern
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
Group structure
Sdi Group Plc Plc is the ultimate parent — holding 75%+ shares. This company sits inside their group.
🏛️ultimate parent
Sdi Group Plc Plc
Corporate parent · holds 75-100% shares
⬇
THERMAL EXCHANGE LIMITED
This company · 02619819
Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).
Shareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Sdi Group Plc Plc Corporate entity | 75–100% | — | 75-100% shares | 01/02/2019 |
3 historic (ceased) PSCs
- Mr Joseph Bryan Percivalceased 01/02/2019· 25-50% shares · 25-50% voting
- Mr Patrick James Byrneceased 01/02/2019· 25-50% shares · 25-50% voting
- Mr Peter Hans Geislerceased 01/02/2019· 25-50% shares · 25-50% voting
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
🔒Co-director network graph
Radial SVG graph showing every company connected via shared directors, colour-coded by status.
Available from the Pro tier upwards.
See pricing →Similar companies
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|---|---|---|---|---|---|---|---|
| A.J. DEW LTD→ 16106229 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
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| AGA COMPOSITES LTD→ 14707511 · est 2023 · no financials extracted | — | — | — | — | 3y | — | — |
| AGD CARPENTRY LTD→ 16338903 · est 2025 · no financials extracted | — | — | — | — | 1y | — | — |
| AI NOLUTECH LTD→ 14911210 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| AI PRECISION ENGINEERING LIMITED→ 14966056 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| AIR NEXT LTD→ 15013073 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
6 specific questions generated from this company's actual signals — liquidity, leverage, director age, charge count, red flags, age-of-company.
Available from the Pro tier upwards.
See pricing →🔒Advanced scoring suite
Exit-route ranking, improvement thesis, quiet-distress detector, covenant-pressure proxy, extraction monitor, approaching triggers, ownership drift, local cluster, value trap, debt capacity, archetype classification — 48+ scoring modules.
Available from the Pro tier upwards.
See pricing →Company details
Statusactive
Typeltd
Incorporated1991-06-12
Jurisdictionengland-wales
Primary SIC28990 — SIC 28990
Registered office
Beacon House
Nuffield Road
Cambridge
CB4 1TF
England
Filing status
Accounts
Next due: 2027-01-31
Last made up to: 2025-04-30
Confirmation statement
Next due: 2026-06-26
Last: 2025-06-12
Officers (2 active · 9 resigned)
BROWN, Stephen Mark→
Activedirector · ~53y · appointed 2023-09-29
View their other companies + combined net worth →
SHARMA, Amitabh→
Activedirector · ~59y · appointed 2022-08-17
View their other companies + combined net worth →
PERCIVAL, Joseph Bryan→
Resignedsecretary · appointed 1991-06-24 · resigned 2019-02-01
MBC SECRETARIES LIMITED→
Resignedcorporate-nominee-secretary · appointed 1991-06-12 · resigned 1991-06-24
ABELL, Jonathan Paul→
Resigneddirector · ~65y · appointed 2019-04-01 · resigned 2022-09-21
BYRNE, Patrick James→
Resigneddirector · ~75y · appointed 1991-06-24 · resigned 2019-02-01
CREEDON, Michael John→
Resigneddirector · ~66y · appointed 2019-02-01 · resigned 2024-01-19
GEISLER, Peter Hans→
Resigneddirector · ~76y · appointed 1994-06-15 · resigned 2019-02-01
PERCIVAL, Joseph Bryan→
Resigneddirector · ~85y · appointed 1991-06-24 · resigned 2019-02-01
PONIATOWSKI, Robert Tadeusz→
Resigneddirector · ~67y · appointed 2019-04-01 · resigned 2026-05-14
MBC NOMINEES LIMITED→
Resignedcorporate-nominee-director · appointed 1991-06-12 · resigned 1991-06-24
Click a director name to see their full track record across all companies.
Mortgages & charges
4
Total charges
0
Outstanding
0
Active lenders
Status:Lender:4 of 4 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| satisfied | Barclays Barclays Bank PLC | A registered charge | — | 03/04/2018 | 31/01/2019 | |
| satisfied | Barclays Barclays Bank PLC | A registered charge | — | 23/07/2015 | 31/01/2019 | |
| satisfied | Barclays Barclays Bank PLC | Guarantee & debenture | 1 property | 01/02/2013 | 29/03/2018 | |
| satisfied | National Westminster Bank National Westminster Bank PLC | Mortgage debenture | 1 property | 12/10/1993 | 10/04/2015 |
Recent filings (127 total)
termination-director-company-with-name-termination-date
officers · TM01
2026-06-03
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2025-09-10
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-06-16
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2024-10-03
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-06-12
termination-director-company-with-name-termination-date
officers · TM01
2024-01-29
appoint-person-director-company-with-name-date
officers · AP01
2023-10-04
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2023-09-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-06-12
termination-director-company-with-name-termination-date
officers · TM01
2022-09-25
appoint-person-director-company-with-name-date
officers · AP01
2022-08-30
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2022-08-10
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-06-13
accounts-with-accounts-type-small
accounts · AA
2021-10-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-06-23