Drystone Strategy | TEV Limited
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TEV Limited

TEV Limited

Drystone Strategy Partners provided commercial due diligence for YFM Equity Partner’s investment in TEV Limited.

TEV operates through two widely recognised brands, Marstair and Quartz, which offer bespoke products. Marstair supplies air conditioning and refrigeration equipment into retail, leisure and food manufacturing businesses, and also designs and manufactures solutions for harsh climates. Quartz focuses on chilled water cooling solutions for commercial, residential and public sector applications.


TEV manufactures in the UK and employs 56 staff at its headquarters in Brighouse, West Yorkshire. YFM’s investment will allow TEV to further invest in sales and product to accelerate the growth across all areas of the business.


Supporting the deal, Drystone provided comprehensive commercial due diligence. This included in-depth interviews with customers, agents, suppliers and UK and European market participants across both brands, generating strategic and operational insights for the business. Our experience and rigorous process enabled Drystone to provide opportunity identification and an objective voice – to both management and leverage providers.


This project built upon Drystone’s long-established building materials, HVAC and construction sector experience. Drystone have undertaken many similar projects, including air movement products (Envirotec UK, Xpelair) and European convenience retail environments (Regency D&P).


The Drystone team was led by Director Robin Illingworth. For further information, or if you are working in a similar sector, please contact us:

Robin Illingworth; +44 (0) 7725 036 155, +44 (0) 020 7307 5917 robin@drystonestrategy.co.uk