Natgraph

What Natgraph does

Natgraph is a Nottingham, UK-based manufacturer of modular industrial drying and curing systems, founded in 1979 and operating since July 2019 as a subsidiary of Swedish industrial investment group Indutrade AB. The company designs and builds engineered-to-order electro-mechanical equipment from sheet steel in a vertically integrated factory, targeting precision- and validation-intensive production environments rather than commodity drying. Its product architecture is a configurable platform of modules — heated modules up to 300°C, cool-air and UV cooling modules, UV dryer modules with auto-standby, infrared dryer modules, the Air Force Dryer Series, the Air Force Web Series, Automatic Sheet Stackers, and the proprietary Vacuum Conditioning Module (VCM) — assembled into bespoke lines for each customer and complemented by the Intelligent Energy Control System (IECS) energy-saving feature.

The company sells predominantly into B2B verticals with stringent quality and traceability demands: automotive and FIM (decorative trim, sensors, side strips), medical and biosensors (blood-glucose strip production, GE Healthcare equipment), credit and security cards, architectural and functional glass, renewable energy (solar, fuel cells), print finishing and spot UV, textile transfer and tagless labels, graphic overlays and conductive inks, and PCB conformal coating. Recent activity has emphasized the PCB segment, with a new conformal coating system previewed in April 2025 and showcased at Focus on PCB 2025 in Vicenza. Sales is conducted through direct technical sales engineers, a global network of 47 distribution partners across the Americas, Asia Pacific, Europe, the Middle East and Africa, active co-exhibition with partners including Sakurai, THIEME, Marabu and I-TRONIK, and an in-house Drying Solution Centre used for trials and demonstrations. Pricing is quote-based and not publicly disclosed.

Revenue model combines one-time engineered equipment sales with a transaction-fee spares/components stream (lamps, reflectors, rollers, filters, bearings, motors, belts, probes) and professional-services installation/commissioning. Recognition includes the Queen's Award for Export (2019, tied to 80% overseas shipment), Manufacturer of the Year at the Nottinghamshire Business Awards (2018), ISO 9001 and ISO 14001 certifications, Made in Britain Marque (2016), and Carbon Literacy Silver Accreditation. With 51–100 employees, 14,000+ cumulative installations globally, and no public revenue disclosure, the business is a niche, export-led industrial equipment maker whose growth profile is now shaped by Indutrade group-level M&A and a deliberate push into PCB conformal coating and reel-to-reel markets.

Name

Natgraph

Legal name

Natgraph Ltd

Website

https://natgraph.co.uk

Company type

Private

Founded year

1979

Operating status

Operating

Headcount range

51–100 employees

Short description

Natgraph is a Nottingham, UK-based manufacturer of modular industrial drying and curing systems serving automotive, medical, electronics, security printing, glass, renewable energy, textile, and PCB customers. Founded 1979, since July 2019 a subsidiary of Sweden's Indutrade AB, exporting 80% of output via 47 global distribution partners.

Ownership category

akta.pro rank

Product category

Industrial Drying and Curing Equipment

NAICS

Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (3334), Automatic Environmental Control Manufacturing for Residential, Commercial, and Appliance Use (334512)

SIC

Industrial Process Furnaces & Ovens (3567), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585)

akta.pro primary industry

Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC)

Keywords

• Industrial drying systems
• UV curing equipment
• Conformal coating systems
• Reel-to-reel processing
• Print finishing machinery

Headquarters

HQ city

Nottingham

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Custom Drying and Curing Equipment: Manufacture of bespoke engineered-to-order drying and curing systems. Equipment includes modular hot air dryers, UV curing systems, cooling modules, and integrated solutions for industrial applications including reel-to-reel processing, screen printing, and conformal coating
2. Spare Parts and Components: Replacement parts including lamps, reflectors, rollers, rubber blankets, filters, bearings, motors, belts, temperature probes, and specialized components for Natgraph equipment
3. Installation and Commissioning Services: Global installation and commissioning services for Natgraph equipment, including training for customer operators

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Natgraph designs, manufactures and services engineered-to-order modular industrial drying and curing systems built from sheet steel. Its portfolio spans heated modules (up to 300°C), UV/IR dryer modules, the Air Force Dryer Series, Air Force Web Series, Vacuum Conditioning Modules, automatic sheet stackers, and the IECS energy-saving control system. The company also supplies spare parts, installation/commissioning and operator training, supported by a Drying Solution Centre test facility.

Product overview

Natgraph is a manufacturer of drying and curing systems based in Nottinghamshire, England. Their product portfolio is a modular platform architecture consisting of core heating/cooling modules (heated modules at temperatures up to 300°C, cool air modules, UV cooling modules) and specialized curing systems (UV dryer modules, infrared dryer modules, Air Force Dryer Series, Air Force Web Series). The system is complemented by add-on modules including Automatic Sheet Stackers, infeed/outfeed modules, Twin Belt UV Dryers, Vacuum Conditioning Modules (VCM), LCD Conditioning Modules, and Conformal Coating Conditioning Modules. The platform also includes the Intelligent Energy Control System (IECS) for energy efficiency and LED UV curing options. Natgraph offers services including a Drying Solution Centre for R&D trials and CCTV systems integration. All products are engineered from sheet steel into precise, controllable, and energy-efficient electro-mechanical drying machinery in their vertically integrated factory.

Differentiator

Problem solved

Functional benefit

Brands

• Air Force Dryer Series: Industrial drying systems designed for continuous roll-to-roll processing and various industrial applications
• Air Force Web Series
• IECS (Intelligent Energy Control System)
• Vacuum Conditioning Module (VCM)

Products and services

• Heated/Hot Air Modules Precision-controlled heated modules providing uniform heat distribution for consistent drying and curing results, available in 130°C and 300°C variants. Designed for industrial manufacturers needing precise temperature control across production lines.
• Cool Air Modules Cooling modules providing controlled ambient cooling of substrates after drying and curing processes, integrated into Natgraph modular lines. Suitable for industrial production lines following UV or thermal curing.
• UV Cooling Modules Specialized cooling modules designed for UV curing applications, managing heat from UV lamp systems. Used as part of integrated UV drying and curing lines.
• UV Dryer Modules Freestanding UV curing modules that dry inks, coatings and adhesives instantly when exposed to UV light. Configurable with one or two UV lamps, cooling fans and vacuum hold-down for stable substrate handling, with energy-efficient auto-standby.
• Infrared (IR) Dryer Modules Infrared drying modules providing enhanced heat transfer for faster drying, suitable for heat-sensitive materials and thick coatings.
• Air Force Dryer Series Hot air drying systems providing uniform heat distribution for consistent results across web processing applications. Ideal for solvent-based and water-based inks with efficient moisture removal for high-speed production.
• Air Force Web Series Web dryer systems specifically developed for printed electronics and continuous roll-to-roll processing applications, supporting high-throughput continuous web drying lines.
• Vacuum Conditioning Module (VCM) Pioneering in-line Vacuum Conditioning Module developed to eliminate bubbles in conformal coatings on printed circuit boards, ensuring superior protection and long-term reliability. Resolves air entrapment issues in both water-based and solvent-based coatings.
• LCD Conditioning Module Specialized conditioning module for LCD and display manufacturing processes, supporting controlled conditioning steps in display production.
• Conformal Coating Conditioning Modules Complete range of conformal coating curing, drying and conditioning systems designed for modern solvent-free materials including UV LED and water-based chemistries. Includes Vacuum, LED, UV, Infra-red, Hot Air and Cooling Conditioning modules.
• Automatic Sheet Stackers Fully self-contained stacking units equipped with their own drive motor, air blower and hoist, available in various sizes to increase production efficiency and save time on production lines.
• Twin Belt UV Dryer Custom-built UV and Airforce Twin Belt Dryer with independent speed control for two separate conveyor belts, designed for dual-substrate lines, eight and a half meters long.
• New Conformal Coating System for PCBs New conformal coating system combining drying, curing and advanced treatment technologies for modern solvent-free materials including UV LED and water-based chemistries, designed for PCB manufacturers.
• Drying Solution Centre Customer research and development facility providing real-time demonstrations and in-depth analysis to help determine optimal drying conditions for specific applications, including ink drying trials with partners such as Marabu.
• Spare Parts and Components Replacement parts including lamps, reflectors, rollers, rubber blankets, filters, bearings, motors, belts, temperature probes, and specialized components for Natgraph equipment, supporting installed base uptime.
• Installation and Commissioning Services Global installation, commissioning and operator training services for Natgraph drying and curing equipment, delivered alongside equipment sales.

Quantifiable outcome

• Over 40% energy savings achieved
• +2 more outcomes

Named customers9 records

Segments10 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• IPP (Industrial Production Processes)coreStrategic or Co-development Partner · 1 April 2025Acquired by Indutrade AB in April 2025, IPP specializes in manufacturing equipment and consumables for pharmaceutical, medical device, and electronics sectors across UK and Ireland. Founded 1976, offices in Bromsgrove UK and Cork Ireland.
• Alphr TechnologiescoreStrategic or Co-development PartnerAutomation specialists and Indutrade sister company. Natgraph collaborates with Alphr on automation projects and combined solutions for customers. Joint training and collaborative meetings held at Natgraph's Nottingham facility.
• VEScoreStrategic or Co-development PartnerLeak test specialists and Indutrade sister company. Part of collaborative meetings combining Natgraph's drying and curing expertise with VES leak testing capabilities.
• NolekminorStrategic or Co-development PartnerIndutrade sister company. Part of collaborative group meetings at Natgraph facilities.
• SakuraicoreGTM or Marketing PartnerGlobal partnership for joint exhibitions including SGIA Las Vegas, FESPA, InPrint Milan, Printing United Expo. Natgraph UV dryers integrated with Sakurai screen printing machines.
• THIEMEcoreGTM or Marketing PartnerIndustrial screen printing and digital printing systems provider. Natgraph exhibited alongside THIEME at SPI Messe Essen with integrated UV dryer module demonstrated with THIEME LAB 3000 Vision AL screen printing machine.
• MarabucoreStrategic or Co-development PartnerLeading global manufacturer of printing inks for digital, screen and pad printing. Long-term partner conducting ink drying trials at Natgraph's Drying Solutions Centre. Marabu Scandinavia and Marabu Italia collaboration.
• I-TRONIKcoreStrategic or Co-development PartnerIndustrial electronics sister company specializing in technological solutions for electronics and industrial sectors since 1993. Natgraph exhibiting with I-TRONIK at Focus on PCB 2025. Collaborative development of conformal coating systems.
• Elite CameronminorGTM or Marketing PartnerExhibition partnership at ICE Europe 2025. Elite Cameron exhibiting in hall A6 stand 118, renowned for cutting-edge web processing solutions, custom slitting and rewinding, hot melt coating and laminating equipment.
• SefarcoreChannel Partner/ Reseller/ DistributorDistribution partner for Spain producing innovative screen printing solutions with pre-coated mesh and stretching equipment. Long-time partnership for Spanish market.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Dr. Hönle AG: German UV technology specialist offering UV curing lamps, LED UV systems and IR/hot air dryers for industrial applications. Direct overlap with Natgraph's UV dryer modules and conformal coating curing portfolio.
• THIEME: European supplier of industrial screen and digital printing systems. Co-exhibits and integrates with Natgraph UV dryers (LAB 3000 Vision AL) and competes for the same printing customers seeking drying-and-printing integrated solutions.
• Adphos Innovative Technologies: Provider of NIR (near-infrared) and IR drying technology for web and sheet-based industrial drying. Direct competitor in the IR dryer module category that Natgraph also serves across automotive, electronics and print finishing.
• Baldwin Technology Company: Global supplier of UV, IR and hot air drying/curing systems for printing, coating and converting industries. Closest direct competitor to Natgraph in industrial drying equipment with overlapping product lines in print finishing and web processing.
• Heraeus Noblelight: Specialist in UV and infrared process equipment for industrial curing and drying applications. Competes directly with Natgraph in UV/IR dryer modules and serves overlapping end markets including automotive and electronics.
• Sakurai: Japanese manufacturer of screen printing machines that integrates Natgraph UV dryers into its lines. Partner and peer in the sense that both serve the global screen printing market with complementary equipment.
• IST METZ: German manufacturer of industrial UV curing systems for printing, coating, electronics and automotive. Direct competitor in UV curing modules, with similar global exhibition presence and a comparable technology focus on UV LED.
• GEW (EC) Limited: UK-based manufacturer of UV curing systems and electronic power supplies for printing and converting. Comparable in scale and product overlap, with strong presence in label, screen and digital print finishing — a key Natgraph vertical.

Broad incumbents

• Dürr AG: Global engineering group with industrial painting and drying lines for automotive, coatings and process industries. Much larger incumbent with broader portfolio; competes at the high end of integrated production lines where Natgraph supplies modular drying.
• Nordson Corporation: Diversified industrial precision technology company with UV curing, dispensing and coating equipment. Operates adjacent product lines to Natgraph, especially in electronics and conformal coating, at significantly greater scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/Natgraph
• LinkedInlinkedin.com/company/natgraph-ltd
• Instagraminstagram.com/natgraphuk
• Xx.com/Natgraph

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Natgraph