Fuelling Sustainable Growth: How Ellis & Co Partnered with Stiebel Eltron for their UK Expansion

Client: Stiebel Eltron UK 

Services: Business Development & Growth, Payroll, Audit & Assurance

Stiebel Eltron, a world-leading German manufacturer of renewable heating technology like heat pumps and water heaters, has been at the forefront of sustainable innovation for nearly a century. As they expanded their operations into the UK, they needed a financial partner who could do more than just manage their accounts; they needed a guide to help them navigate the market and establish a strong foundation for growth.

The Challenge: Laying the Foundations for Success in The UK

When Stiebel Eltron first established its UK presence in Bromborough, Wirral, it was a lean operation with a small, dedicated team. As one of the first employees, UK Managing Director — Mark McManus knew that to realise the company’s ambitious growth plans, they needed an accountancy firm that could act as an extension of their own team. They required comprehensive, hands-on support that went far beyond traditional compliance, offering strategic advice to help them scale effectively in a new market.

The Solution: A Partnership Approach to Growth

Ellis & Co was appointed to provide a full suite of financial services, but more importantly, to act as the trusted business advisor Stiebel Eltron needed. From day one, the focus was on building a true partnership. The initial support included setting up robust systems for essential services like payroll and annual audits, ensuring the new UK entity was fully compliant and operating efficiently.

Soon after, the relationship extended into strategic business development, where our team at Ellis & Co provided the proactive advice and guidance necessary to support Stiebel Eltron’s expansion. Thus, helping them make informed decisions at critical stages of their growth journey.

The success of the relationship is built on trust and a deep understanding of Stiebel Eltron’s business. Mark McManus, reflecting on the long-standing partnership, highlights the value of this personal approach.

“When we first started in the UK, we were a very small business,” says Mark. “We needed somebody who could give us advice, who could help us grow the business, and Ellis & Co have been with us every step of the way.”

For Stiebel Eltron, having a dedicated and accessible team was paramount. This direct line to trusted advisors set Ellis & Co apart from larger, more impersonal firms and was crucial for a growing business needing swift and knowledgeable support.

“The great thing about working with Ellis & Co is the personal touch,” Mark explains. “They’re a local firm to us, we have a great relationship with them, and I’d highly recommend them. It really has been a partnership since day one.”

The Result: A Decade of Sustained Growth

With the support of Ellis & Co, Stiebel Eltron UK has grown into a major player in the UK’s renewable energy sector. The seamless financial management and strategic guidance provided by Ellis & Co allowed the Stiebel Eltron team to focus on what they do best: delivering innovative heating solutions to the UK market. Overall, the relationship, which has flourished for over a decade, is a testament to the power of a true professional partnership.

John Farrell, Ellis & Co’s Director, mentioned:

“Our journey with Stiebel Eltron is a perfect example of the partnerships we aim to build. It has been incredibly rewarding to watch Mark and his team grow the UK business into the success it is today. We’re proud to have been there from the beginning, providing the support and strategic advice needed to help them expand.”

About Ellis & Co

Ellis & Co is a leading accountancy firm specialising in bookkeeping, accountancy & audit, payroll, tax planning and business advisory services. We work with a diverse range of businesses, from start-ups to established companies, ensuring they have the financial clarity and support they need to succeed. With our team of experienced accountants based in Chester and Wrexham, we are proud to offer personalised solutions that help businesses succeed.