A Caerphilly-based heating and air conditioning business has entered a new chapter following a second-generation management buy-in, backed by a seven-figure funding package from HSBC UK.
The seven-figure deal sees Thomas and Caitlin Markall and long-term employee Dennis Winter acquire full ownership of Dragon HVAC from long-standing founders Kevin and Alison Markall, who have successfully led the company for several decades. This transition preserves the family legacy while introducing fresh leadership and strategic direction.
The move forms part of a broader strategy to accelerate business growth, with plans to create up to five new roles across the company. Dragon HVAC also intends to invest in alternative energy solutions for air conditioning systems, supporting clients in lowering energy costs and reducing their environmental impact.
Caitlin Markall, Director at Dragon HVAC Ltd, said:
“This buy-in marks an exciting new chapter for Dragon HVAC, as my husband and I take the business forward as second-generation owners. Keeping the company in the family was a key priority for us, and HSBC UK’s support has been instrumental in making that possible. With fresh investment and a focused growth strategy, we’re looking ahead at expanding our services and accelerating our efforts to deliver sustainable HVAC solutions for commercial clients.”
Ceri Thomas, Relationship Manager at HSBC UK, added:
“At HSBC UK, we recognise the vital role independent businesses like Dragon HVAC play in local communities and regional economies. The funding will allow the business to evolve with its customers’ needs while laying the foundations for long-term resilience and generational leadership.”
Dragon HVAC Ltd specialises in the design, installation and maintenance of steam and air conditioning systems.
