Robert Bosch UK Holdings has become a minority shareholder in BOXT Limited, based in Leeds. A start-up established in 2017, BOXT currently employs 30 people.
The company operates an online digital platform that digitally connects consumers to installers and enables the purchase of new heating systems online. An agreement to acquire a minority share was signed in September 2017.
Carl Arntzen appointed representative of Robert Bosch UK Holdings Limited said: “By acquiring an interest in BOXT, we are strengthening our position in the digital services sector.”
Bosch Thermotechnology already has broad-based expertise in product and service solutions for the connected world, having already sold more than 320,000 connected products. “BOXT will help expand our range of online service solutions even further,” he said.
The heating market is continuing to see a strong trend towards digitalisation. Consumers are increasingly looking to purchase their goods and services online in a quick and convenient way. Carl said, “We want to actively shape this change, and invest in digital business models. By working closely with all of our installer customers, regardless of their chosen business model and route-to-market, we can help to ensure quality standards remain high and independent installation businesses continue to be supported by us to develop digitally.
“We fundamentally believe that emerging digital routes-to-market can run alongside the more traditional business models to meet the needs of a wider variety of end customers. We would not in any way want to jeopardise relationships with any of our valued installers and merchant customers.”
Following the acquisition of the minority interest, BOXT will operate as a separate entity and continue to offer its services independently of Bosch Thermotechnology.