Posted on Wednesday 3 September 2014 by Ulster Business
Adamsez new owners are James McCormick, left, an engineer and MD of Macspec Engineering, and Ciaran Hunter, a Chartered Accountant and CEO of Arran Capital.
One of the last remaining bathroom product manufacturers in the UK has been bought by a group of Northern Ireland investors which aims to grow the business and create new jobs.
Adamsez was sold for £750,000 to the Arran Business Angels after the Carryduff company’s chairman Larry Dunlop decided to retire from the business.
The new owners are James McCormick, an engineer and managing director of Macspec Engineering, and Ciaran Hunter, a chartered accountant and chief executive of Arran Capital.
The deal was brought together by Halo, the Northern Ireland Science Park –based group which helps direct private investors to indigenous companies across the country.
Adamsez is one of the few bathroom manufacturers which still designs and produces its products in the UK.
Its products are stocked across Northern Ireland but 75% of the trade is exported, something the new owners hope to build on.
“We will retain and invest in this recognised brand,” James McCormick said. “The acquisition of Adamsez will lead to investment in the latest manufacturing technology. We are committed to providing the market place with the finest quality bath products and we will continue to grow Adamsez both in the UK and in the international market place.”
Ciaran Hunter said a new approach to an established business will help.
“Adamsez is a great business, with some 300 stockists, but we come to the company with a fresh pair of eyes and a new vigour.
“We plan to take the Adamsez business in a new and revitalised direction. Our investment will protect skilled local workers and suppliers, and we aim for further job creation as we continue to grow.”
The bathroom business was established in 1885 and was the first to develop baths with central taps and a leak-free, silicone-free shower enclosure.
Retiring chairman Larry Dunlop felt confident he was leaving the business in good hands.
“At 85 I think the time has come for me to retire, and would like to take this opportunity to thank our customers for all their support over many years.
“The company is in excellent hands with the new owners who, like ourselves, are experienced in, and committed to, high level manufacturing and excellent customer care.”