Aries Engineering founder Ken Millard, who launched the company which would make Gold Heat heated flooring products in 2002, has sold Gold Heat and all its assets.
Ken Elwell’s Elwell Corp., which has served as Gold Heat’s sales representative since 2010, acquired the company. Elwell said the acquisition will bring Gold Heat’s manufacturing and equipment and much of its team to Elwell Corp.’s Washougal, Washington, facility.
The new facility is less than an hour from Gold Heat’s headquarters in Portland, Oregon.
“We will manufacture the product in the same place where we produce the Timberline (hot water system),” Elwell said. “We are keeping about all the manufacturing staff; the floor supervisor and plant supervisor will be with us.”
Elwell stressed the acquisition, which will close Dec. 31, will not change contacts or part numbers Gold Heat customers are familiar with.
“We will have a letter to our customers coming in the next couple of days,” he said. “They will have the same email addresses, the same contact numbers they have been using—especially between now and the end of the year. There are no changes for customers.”
Millard initially explored a company sale before the pandemic. Elwell said the acquisition was put together in the past month or so.
“Underfloor heat in Class A coaches was not the standard when Elwell Corp. and Ken Millard with Gold Heat started working together in 2010,” the company said. “Together, we have enjoyed the journey of making Gold Heat the gold standard for luxury motorhomes.”
Elwell Corp. will consider future product developments after the acquisition is finalized. Elwell said he sees opportunities to incorporate Gold Heat into Timberline and other company products.
“In the past we have been the sales force for the product, so from an engineering and product development point, that has not been a focus,” he said. “We have strategies we think we can implement to enhance and grow Gold Heat.”
