As an Atlanta real estate professional, based in Atlanta, I’ve seen how many careers in this industry are shaped less by single breakthroughs and more by consistent, long-term discipline.

Sam Lagod’s story reflects that reality clearly. Through the lens of real estate market insights in Atlanta, his path shows how fundamentals, relationships, and steady execution often matter more than timing or luck.

Sam Lagod’s career did not start with big headlines. It started with small steps, steady work, and a clear focus on people.

Raised in Atlanta, Georgia, Lagod grew up in a close family. Sports were a big part of his early life. Baseball, football, hockey, and wrestling filled his days. Those experiences shaped how he approaches work today.

“Family was and remains a huge aspect of my life,” he says.

That early structure taught him discipline. It also taught him how to work with others. Both would later play a key role in his career.

From College Jobs to Real Estate Foundations

Lagod attended the College of Charleston, where he earned a degree in Business and Hospitality. During that time, he worked as a bartender and server.

It was not just about making money. It was where he learned how to communicate, stay organized, and handle pressure.

Outside of work, he spent time surfing, playing golf, and being outdoors. That balance between work and lifestyle stayed with him.

After graduating, he entered residential real estate. It was his first real look at how deals come together and how relationships drive business.

As someone who now follows real estate market insights in Atlanta, it’s clear how foundational those early experiences are for anyone trying to understand how markets function beyond the surface.

He later moved into commercial real estate. There, he focused on leasing and working with property owners and tenants. It gave him a deeper understanding of how properties perform over time.

Building Something Bigger with Amicus Properties

In 2019, Lagod helped bring a new idea to life. He was part of the early team behind Amicus Properties, a real estate investment firm focused on student housing across the Southeast.

The idea was simple. Focus on a specific market. Build systems that work. Grow with intention.

From an Atlanta real estate professional perspective, this kind of targeted strategy is often what separates scalable firms from reactive ones.

Lagod played a key role in shaping how the business operated. He worked across different areas, from managing properties to helping guide investment decisions. His work focused on improving how properties were run. That included working with teams, overseeing renovations, and tracking performance.

“Trust, communication, and commitment,” he says. “Those are the things that make everything work.”

Instead of chasing fast growth, the focus was on consistency. Step by step progress. Strong execution.

Navigating Change and Uncertainty in Real Estate

Like many in the industry, Lagod has faced periods of uncertainty. Market changes, shifting roles, and new challenges are part of the process.

He does not see those moments as setbacks. He sees them as part of the path.

“A significant obstacle I’ve faced has been navigating periods of transition and uncertainty,” he says. “I’ve learned to stay disciplined, seek advice, and focus on what I can control.”

That mindset is especially relevant when viewing broader real estate market insights in Atlanta, where cycles and shifts are constant and adaptability is essential.

That mindset helped him stay grounded. It also helped him make better decisions over time.

He believes success is not about avoiding challenges. It is about how you respond to them.

“I measure success by the progress I make and the relationships I build along the way,” he adds.

What Sets Sam Lagod Apart in Real Estate

Lagod’s approach is not complicated. It is built on a few core ideas.

Stay consistent. Build strong relationships. Focus on long-term growth.

As an Atlanta real estate professional, based in Atlanta, I see these same principles reflected in the most sustainable careers across the industry.

He believes that personal and professional success are closely connected. When one improves, the other often follows.

“When I’m growing personally and maintaining strong relationships, it allows me to perform better professionally,” he says.

He also values the people around him. From early mentors to current partners, those relationships have shaped his path.

“Trust yourself and who you surround yourself with,” he says.

That focus on people has been a key part of his work across residential and commercial real estate.

Life Outside Work: Balance and Perspective

Outside of business, Lagod keeps a strong focus on health and balance. He spends time outdoors with his dog, Forrest. He also enjoys surfing, golf, and tennis.

Fitness plays a big role in his routine. So does mental and emotional well-being.

He believes that taking care of yourself helps you show up better in every area of life.

He also gives back to his community. He volunteers with the varsity wrestling program at Marist High School and supports Project Open Hand.

“Family and friends,” he says when asked what matters most.

A Career Built on Steady Progress

Sam Lagod’s story is not about one big moment. It is about a series of decisions made over time.

From working in restaurants to building a career in real estate. From learning the basics to helping grow a business. Each step added to the next.

His definition of success reflects that journey.

“Success is building a life where I’m proud of the work I do, the people I surround myself with, and the impact I leave on others,” he says.

It is a simple idea. But it has shaped how he approaches everything.

And it continues to guide what comes next.

Many California residents who move out of the state are finding substantial savings on housing costs and an easier pathway to homeownership as affordability concerns weigh.

A recent analysis by the California Policy Lab at UC Berkeley, using data that anonymously tracks the same households over time from 2016 to 2025, found that Californians who relocate tend to move to more affordable areas and are more likely to become homeowners in the process.

The report found that on average, Californians leaving the state end up in neighborhoods where housing costs are $672 less per month – having faced average costs of $2,376 in California versus $1,705 in their new community. The analysis includes mortgage or rent payments, utilities, property taxes and insurance for monthly housing costs.

Renters relocating out of California saw rents lower by about 30%, or $631 a month, in their new neighborhood. Homeowners also find more affordable pricing for the median home, which costs about $396,000, or 48%, less than the median where they lived in California.

TRUMP ADMINISTRATION MAKES FANNIE, FREDDIE CHANGE IT SAYS WILL BENEFIT ‘TENS OF MILLIONS’ OF AMERICANS

That dynamic helps make homeownership more common in their new neighborhood, with 60% owning their homes versus 53% in the California neighborhood they departed.

By contrast, those moving within the state of California saw slightly higher costs, with average monthly housing costs of $2,263 rising to $2,277 for their new residence in the Golden State.

People moving to California generally faced a significant jump in their average monthly housing costs relative to their former neighborhood, which rose from $1,754 at their prior out-of-state home to $2,418 in their new community in California.

CALIFORNIA BUILT MORE HOMES THAN PEOPLE OVER SIX YEARS – SO WHY IS HOUSING STILL SO TIGHT?

After seven years, people who left California are 48%, or 11 percentage points, more likely to become homeowners than they were before living in California. People who moved to California were only 27%, or 6 percentage points, more likely to be homeowners after seven years.

“The price tag has gone up on the California dream, and many families are leaving the state for more affordable places,” Evan White, executive director of the California Policy Lab at UC Berkeley and a co-author of the study, told Realtor.com.

“The difference these moves make is stark. Their destination neighborhoods are half as expensive, and they end up much more likely to own a home within just a few years,” White added.

HOUSING CRISIS HITS ALL AGES AS HOMEOWNERSHIP DECLINES NATIONWIDE

The California Policy Lab’s analysis also looked at the states with net migration flows to and from California.

The state with the largest net inflow of residents moving there from California was Nevada, which received 81 more people per 10,000 annually from California on a net basis from 2016 to 2025.

Idaho, Oregon and Arizona were the next three states with the largest net in-flows, which amounted to 64, 37 and 36 per 10,000 over the last decade, respectively.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Other states that have seen large influxes of new residents from around the country were less popular with departing Californians. Texas netted 11 more people from California per 10,000 each year, while Tennessee gained 13 and Florida just four.

U.S. stocks closed lower on Tuesday, backing away from record closing highs as renewed concerns over the artificial intelligence boom weighed on technology stocks days before five of the sector’s most high-profile companies were due to post quarterly results.

Semiconductor shares, which have surged over 40% so far this year, weighed particularly heavily on the Nasdaq. OpenAI missed internal targets for weekly users and revenue, raising concerns ‌over the AI heavyweight’s ⁠ability ⁠to support its massive spending on data centers, according to a report from the Wall Street Journal.

Shares of Oracle fell; the company has come under scrutiny for its reliance on OpenAI.

Chip stocks also dropped, with Nvidia, AMD and Broadcom ending sharply lower. Nvidia-backed CoreWeave also slid.

“(OpenAI) is giving investors more food for thought, whether the growth is slowing and what that means for capex spending,” said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana. “You’ve got major hyperscalers coming out with results tomorrow, which probably gives investors even more reason to take a few chips off the table.”

First-quarter earnings season shifts into overdrive this week, with five of the companies in the Magnificent Seven group of AI-related megacap ⁠firms expected ‌to post results. On Wednesday, Alphabet, Amazon, Meta Platforms and Microsoft are slated to report, with Apple on deck for Thursday.
The companies on deck to report this week account for about 44% of the S&P 500’s total market capitalization, according ⁠to Raymond James. General Motors advanced after the automaker beat quarterly profit estimates and lifted its full-year earnings forecast, boosted by a resilient U.S. car market and an expected tariff refund.

United Parcel Service shares dropped after the package delivery company reiterated its full-year revenue target as spiking fuel costs offset underlying business improvement.

Coca-Cola rose following its better-than-expected quarterly report. The beverage giant played down the impact of high oil prices and raised its annual earnings target. Visa and Starbucks are due to report shortly.

According to preliminary data, the S&P 500 lost 34.81 points, or 0.49%, to end at 7,139.10 points, while the Nasdaq Composite lost 222.37 points, or 0.89%, to 24,664.73. The Dow Jones Industrial Average fell 20.44 points, or 0.06%, to 49,147.35.

THE WAR, SOARING CRUDE PRICES, AND ‌THE FED

The U.S. Federal Reserve has convened for what is likely to be Jerome Powell’s last monetary policy meeting as chair of the central bank. While the Fed is likely to leave its key interest rate unchanged on Wednesday, the accompanying statement and Powell’s subsequent press conference will be ⁠parsed for policymakers’ views on inflation risk related to the war-related energy price spike.

“We know that the Fed is effectively on hold,” said Oliver Pursche, senior vice president at Wealthspire Advisors, in New York. “If oil prices remain elevated, does that create an environment where energy-related inflation is not being viewed as transitory any longer, but rather as something that has a very much longer-term impact and might therefore force the Fed to raise rates?” U.S. President Donald Trump is unhappy with Iran’s latest peace proposal because it would delay negotiations on the nuclear issue, dampening optimism that the conflict, which has rattled world markets and sent energy prices soaring, could be close to resolution. In another blow to oil-exporting countries, the United Arab Emirates announced on Tuesday it was withdrawing from OPEC.

Crude prices spiked, reviving inflation worries and contributing to risk-off sentiment.

The Thai government emphasizes enhanced ASEAN energy cooperation amid Middle East disruptions, addressing supply chain impacts, promoting renewable energy, and increasing domestic production to ensure regional stability and security.

---

Key Points

• The Thai government is committed to enhancing energy cooperation within ASEAN amid disruptions from Middle Eastern unrest, focusing on regional energy supply and coordination. Energy Minister Akanat Promphan participated in a special teleconference to address concerns.
• ASEAN relies on the Middle East for approximately 55% of crude oil and 17% of natural gas, with transport disruptions affecting supply chains, pricing, and economic stability. Thai officials expressed concerns over oil price volatility and rising living costs due to these disruptions.
• In response, Thailand plans to increase domestic gas production, diversify import sources, manage prices, and promote renewable energy. The government is also ready to collaborate with ASEAN on regional energy systems and agreements for cooperative measures during supply disruptions to enhance self-reliance.

The Thai government has made clear its commitment to enhancing energy cooperation within ASEAN as the region responds to disruptions linked to unrest in the Middle East. Energy Minister Akanat Promphan recently joined a special ASEAN ministers’ meeting held by teleconference alongside senior officials to discuss the impact on regional energy supply and coordination.

ASEAN countries rely heavily on imports from the Middle East, with about 55 percent of crude oil and 17 percent of natural gas sourced from the region. Disruptions to transport routes, including the Strait of Hormuz, have affected supply chains, pricing, and access to fuel, raising concerns over economic stability.

Thai officials addressed the impact on the country, including volatility in oil prices, rising living costs, and risks to energy security. In response, measures include increased domestic gas production in the Gulf of Thailand, diversification of import sources, and price management through existing mechanisms to ease the burden on vulnerable groups. The government is also promoting renewable energy, such as solar power and biofuels, to support long-term sustainability.

Thailand also signaled readiness to work with ASEAN partners on regional energy systems, including cross-border electricity and gas networks and emergency response arrangements for fuel supply. Member states are now advancing agreements to enable cooperation during supply disruptions to build greater self-reliance across the region.

Source : Thailand Pushes Energy Cooperation Amid Middle East Risks

Other People are Reading

For many leaders, digital transformation has long been something to tackle when time allowed, after the next funding round, after the next product launch, after the next operational fire was put out.

Marcin Pichur, Docuware, Regional Vice President Sales, UK/IRE, Spain, Italy, Poland, explains that the UK and Ireland now setting firm timelines for mandatory e‑invoicing, the era of “digital later” has officially ended.

In the UK, April 2029 has become the defining milestone for finance and IT teams. In Ireland, the deadlines arrive even sooner. Large organisations must comply by late 2028, and every business -regardless of size – must be capable of receiving structured e‑invoices by November of that year. For businesses, this means the countdown has already begun. Even if you only issue a handful of invoices a month, your systems will still need to handle structured data, not PDFs that merely mimic digital progress.

What’s often overlooked is that this shift is not simply a compliance exercise. This is a rare opportunity to modernise finance operations, eliminate manual friction and build a more resilient, data‑driven business. Those who act early will gain a meaningful operational advantage. Those who wait will find themselves scrambling to comply while competitors quietly accelerate.

Europe has already proven the model works

The UK and Ireland are not stepping into uncharted territory. Across Europe, e‑invoicing has already transformed how businesses operate. Italy’s Sistema di Interscambio (SdI) has shown how real‑time reporting can dramatically reduce VAT fraud while forcing a step‑change in business digitisation. France, Spain and Poland are following suit, each using structured invoicing to modernise B2B trade and improve tax transparency.

The results are consistent: real‑time visibility, fewer errors, faster payments and a more predictable cash‑flow environment. For SMEs, where cash flow is often the difference between growth and survival, this level of visibility is truly nothing short of transformative.

One misconception persists, however – the belief that emailing a PDF is digital enough. A PDF is not an e‑invoice. It is digital paper. It still requires manual keying, error‑prone OCR and endless reconciliation work. True e‑invoicing uses structured data (typically XML following the EN 16931 standard) that flows directly from one system to another without human intervention. This is the leap UK and Irish businesses must prepare for, and one that exposes the fragility of many finance processes.

IDP: the missing link that makes e‑invoicing viable

This is precisely where Intelligent Document Processing (IDP) becomes indispensable. If e‑invoicing is the destination, IDP is the engine that can get you there without chaos.

Most SMEs do not operate with pristine data, perfectly aligned supplier records or a single unified ERP. They operate with a blend of accounting tools, spreadsheets, legacy systems and manual workarounds. IDP provides the orchestration layer that makes structured invoicing viable in the real world, not just in policy documents.

Modern IDP platforms can extract, validate and match data across the likes of invoices, purchase orders, goods‑received notes and statements. They can identify discrepancies before they become problems, flag exceptions automatically and create touchless workflows that eliminate manual checking. Crucially, IDP validates data before an invoice leaves your system, ensuring that VAT numbers, line items and PO references are correct. This prevents the rejection loops that drain resources and delay payments, a hidden cost that many underestimate until it becomes a crisis.

For businesses with lean finance teams, IDP is a realistic way to scale without adding headcount. It protects your business from the administrative burden of compliance while laying the foundations for automation that goes far beyond invoicing.

Avoiding the “integration tax”

The challenge for many SMEs is what some call the “integration tax”. Large enterprises have transformation budgets and IT teams. Start‑ups have agility. SMEs often have neither. They are caught between ambition and legacy systems, between the desire to modernise and the reality of limited resources.

Waiting until 2028 or 2029 will only make this worse. A last‑minute scramble leads to rushed implementations, bolt‑on tools that don’t integrate and processes that meet the mandate but do nothing to improve the business. Early adopters, on the other hand, can use the mandate as a driving force to fix long‑standing inefficiencies. They can clean supplier data, eliminate spreadsheet‑driven processes, standardise approvals and build a finance stack that supports growth rather than constraining it. This is where SMEs can turn compliance into a competitive advantage, by treating the mandate not as an obligation but as an opportunity.

For SMEs trading across borders, the complexity increases. Each country has its own tax authority, schema updates and technical requirements. Trying to manage this with multiple tools creates inconsistency and unnecessary risk. The smarter approach is to adopt a single e‑invoicing gateway that manages multi‑country compliance and shields core systems from constant regulatory change, giving businesses the stability to focus on growth rather than chasing tax updates – an outcome an e‑invoicing service like DocuWare’s is designed to deliver.

E‑invoicing is only the beginning

Once structured invoice data flows into your business in real time, the benefits extend far beyond compliance. Cash‑flow forecasting becomes more accurate. Month‑end closes become faster. Supplier relationships improve. Audit trails strengthen. Financial reporting becomes more reliable. And, perhaps most importantly, you can gain the data foundation required for AI‑driven analytics and automation. Finance shifts from a reactive function to a strategic one.

For UK and Irish SMEs, the e‑invoicing mandate is a once‑in‑a‑generation chance to modernise. Those who start now will reduce manual workload, improve cash flow, strengthen compliance and build scalable finance operations long before the mandate arrives. Those who wait will face a rushed, expensive, compliance‑only project that delivers none of the upside.

The shift from digital paper to structured data is already underway. The only decision left is whether your business uses this moment to get ahead or simply to catch up.

At DocuWare, we anticipate regulatory shifts long before they become urgent, giving you the power to act while others scramble. Speak with our experts today and claim your competitive advantage.

OMAHA, Neb. — Greg Abel will step onto the stage at the CHI Health Center on Saturday, May 2, 2026, for his first Berkshire Hathaway annual shareholder meeting as CEO, marking the end of Warren Buffett’s six-decade dominance over the event and ushering in a new era for one of the world’s most iconic conglomerates.

The gathering, often called the “Woodstock of Capitalism,” will draw tens of thousands of shareholders to Omaha for what promises to be a historic transition. Buffett, 95, stepped down as CEO at the end of 2025 but remains chairman of the board. Abel, 63, took over as chief executive on Jan. 1, 2026, after years of careful grooming by Buffett as his chosen successor.

This year’s meeting will feature a restructured format. Abel will deliver a business update, followed by two separate Q&A sessions. The first pairs him with Ajit Jain, vice chairman for insurance operations. The second includes Katie Farmer, CEO of BNSF Railway, and Adam Johnson, who leads consumer products, services and retailing. The traditional open-microphone shareholder questions remain, supplemented by queries selected by CNBC’s Becky Quick.

Abel’s first shareholder letter, released in March, emphasized continuity while acknowledging the challenge of following Buffett. “I am honored by our board’s decision to appoint me CEO of Berkshire and humbled to succeed Warren,” he wrote. The letter highlighted Berkshire’s decentralized culture, long-term focus and commitment to quality businesses.

Shareholders expect Abel to address several pressing topics. Key questions include Berkshire’s capital allocation strategy with its record cash pile, potential acquisitions, succession planning beyond Abel, and the performance of major holdings such as Apple, Occidental Petroleum and the insurance operations.

The meeting comes at a pivotal time for Berkshire. The company reported strong operating results in 2025, with insurance underwriting profits and growth in its non-insurance businesses. However, investors will closely watch Abel’s approach to deploying the massive cash reserve and whether Berkshire will pursue larger deals after years of relative caution.

Buffett is expected to attend but will not host the Q&A. His presence will add emotional weight to the event, as shareholders reflect on his legendary tenure. The annual meeting has long served as both a business update and a celebration of Buffett’s folksy wisdom and investment philosophy.

Preparations in Omaha are well underway. Shareholder badges featuring the tagline “The Legacy Continues” show Buffett and Abel side by side. Hotels are booked solid, and local businesses are preparing for the annual influx of visitors. The event remains free for shareholders, though tickets are required and limited.

Analysts and long-time Berkshire watchers view Abel’s debut as a critical test. He must demonstrate command of Berkshire’s complex operations while reassuring investors that the company’s culture of autonomy, patience and value investing will endure. Abel has spent decades at Berkshire, most recently overseeing the non-insurance businesses, giving him deep institutional knowledge.

The format changes signal a shift toward a more operational focus. Bringing division leaders like Farmer and Johnson onstage highlights Berkshire’s diverse portfolio and distributes the spotlight. This approach may become the new normal, reducing reliance on a single charismatic figure.

For shareholders, the meeting offers more than business updates. It serves as a pilgrimage for value investors, with exhibits from Berkshire subsidiaries including See’s Candies, GEICO and BNSF. The weekend also features smaller events, panels and networking opportunities throughout Omaha.

Abel has emphasized continuity in public statements. In his shareholder letter, he stressed Berkshire’s decentralized model, where subsidiary managers run their businesses with minimal interference from headquarters. This hands-off philosophy has been central to Berkshire’s success and is expected to remain intact.

Yet subtle changes may emerge. Observers anticipate a more structured approach to capital allocation and possibly greater emphasis on technology and sustainability. Abel’s background in energy and utilities could influence future investments as Berkshire navigates the energy transition.

The 2026 meeting will also feature the formal election of directors and advisory votes on executive compensation and frequency of such votes. Proxy materials were mailed in March, with voting available online or by mail.

As anticipation builds, CNBC will provide live coverage starting at 9:15 a.m. ET on May 2. The event typically runs from morning until early afternoon, followed by shopping at the exhibit hall.

Greg Abel’s first annual meeting represents both continuity and evolution for Berkshire Hathaway. While Buffett’s shadow will loom large, Abel has the opportunity to define his leadership style before the world’s most dedicated investor audience. How he handles questions, articulates strategy and balances tradition with forward momentum will set the tone for his tenure.

For Berkshire shareholders, the weekend offers a chance to celebrate the company’s remarkable history while looking ahead to its next chapter. As the “Woodstock of Capitalism” convenes once more, all eyes will be on the new CEO taking center stage in Omaha.

Billionaire business tycoon Elon Musk indicated last year that he would donate to support Rep. Thomas Massie’s, R-Ky., re-election bid — but Massie told Fox News Digital on Tuesday that, as far as he is aware, Musk never donated to his campaign.

The congressman emphasized that he still holds Musk in high regard.

“Elon’s done more for America than any other entrepreneur-inventor this century. I think he found it’s easier to land rockets backwards, provide internet to every inch of the planet, and get cars to drive themselves than it is to fix a broken Washington, D.C., and I don’t blame him a bit for stepping away from this mess,” Massie wrote to Fox News Digital on Tuesday.

“Most of my colleagues, and the guy I’m running against, are just not serious about cutting the waste, fraud, and abuse in government,” he continued.

SNUBBED BY TRUMP, GOP CANDIDATES FIGHTING FOR RE-ELECTION ACT LIKE THEY HAVE HIS BACKING ANYWAY

“To my knowledge, he has not donated to my campaign,” Massie noted of Musk. “If he’s donated to a separate superPAC, I’m unaware of that as well. I want to reiterate though that I still have massive respect for him and no animosity whatsoever.”

On June 30, 2025, former Rep. Justin Amash urged Musk to support Massie, writing in a post on X, “Please support @RepThomasMassie. The establishment is working to primary him because he’s a genuine fiscal conservative and opposes the Big, Bloated Scam.”

“I will,” Musk replied.

TECH TITANS ELON MUSK AND SAM ALTMAN HEAD TO COURT IN TRIAL OVER OPENAI: WHAT TO KNOW

Then Musk shared a post in which someone had written, “I donated again to @RepThomasMassie’s re-election campaign. Who’s next?”

“Me,” Musk wrote when sharing the post on July 1, 2025.

Massie, who has served in the House since late 2012, is facing former Navy SEAL Ed Gallrein in the Republican primary in Kentucky’s 4th Congressional District. 

ELON MUSK REPORTEDLY BEGINS FUNDING REPUBLICANS FOR 2026 MIDTERMS

CLICK HERE TO GET FOX BUSINESS ON THE GO

Gallrein is backed by President Donald Trump, a vociferous Massie critic.

Cardiff-based Elmatic has been acquired by NIBE Industrier AB.

One of the UK’s oldest manufacturers of industrial electric heating elements, Cardiff-based Elmatic, has been Swedish corporate giant NIBE Industrier AB.

Founded in 1949, Elmatic (Cardiff) Ltd has operated as a family-run business dedicated to producing custom-built heating solutions for diverse industries.

READ MORE: Housing association’s plans for 500 new homes in CardiffREAD MORE: Awen Oncology in seven-figure funding round boost

NIBE Industrier AB brings more than 70 years of international industry leadership, originating in Markaryd, Sweden, and expanding to become a global group with a focus on sustainable, energy-efficient heating, climate and control solutions.

John Skalitzky, former owner of Elmatic (Cardiff) Ltd, “On behalf of my family and myself, we are reassured by the knowledge that Elmatic’s future will continue under the leadership of NIBE’s group of companies. I would like to thank the exceptional team of employees, who will continue their work in very capable hands.”

Following the acquisition, the value of which has not been disclosed, Elmatic will continue to operate with the same management team,

To support the transition and strengthen strategic alignment within the NIBE Element business area, Simon Ellam, managing director of Backer Heatrod and Heat Trace , will take on a chairman role supporting Elmatic’s leadership team. His extensive industry expertise and experience within NIBE Element’s UK operations will help guide Elmatic through its next chapter of growth.

Mr Ellam said “It’s clear that industrial heating technology has been at the heart of Elmatic’s strategy from the start and combining this core strength with both our UK and group capabilities will only go to strengthen the industrial heating solutions we can provide. John took the business on from his father and has continued to innovate from both a business and technology perspective ever since. I’m excited to learn from the team and to help guide Elmatic in the coming years.”

Cardiff-based Gambit Corporate Finance acted as lead advisor to the shareholders of Elmatic on initiating, negotiating, structuring and project managing the transaction. The Gambit team comprised Frank Holmes (partner), Cen Thomas (director), Sean David (executive) and Leo Crawford (analyst).

Mr Skalitzky added, “I would like to thank the team at Gambit for their role in advising us throughout the transaction. From the inception of the process to completion, their commercial experience and guidance was invaluable and they took a “sleeves-rolled up” approach to supporting us every step of the way.”

Mr Thomas, director at Gambit, said: “Elmatic is a great example of a leading industrial business with a strong family heritage and its acquisition by NIBE provides a strong platform for its future growth. We are delighted to have advised the shareholders of Elmatic with this landmark transaction.”

Geldards provided legal advice to the shareholders and its team was led by Alex Butler, Mina Dimitrova (corporate) and Henry Bright (commercial property)