Energystore, the Holywood, Co Down-based insulation manufacturer, has acquired Scottish flooring specialist Advanced Traditional Screeding (ATS) for an undisclosed sum.
The deal will add £5 million (€5.9 million) to the Northern Ireland company’s revenues and help it grow its footprint across the UK, an Energystore spokesman said in a statement.
Fife-based ATS, a long-time customer and buyer of Energystore’s flagship bonded bead cavity wall insulation system, was set up in 2014 and works with commercial customers across Scotland and the rest of the UK on aspects of pre-construction and construction flooring installation.
The Scottish company will remain a stand-alone business within the group, a spokesman said, and all 17 staff will be retained.
Stealth sackings: why do employers fire staff for minor misdemeanours?
The key decisions now facing Donald Trump which will have a big impact on the Irish economy
MenoPal app offers proactive support to women going through menopause
Ezviz RE4 Plus review: Efficient budget robot cleaner but can suffer from wanderlust under the wrong conditions
Jason Lister, founder and managing director of ATS, who will remain in situ following the acquisition, said the company has enjoyed rapid growth in recent years. “We know [Energystore is] a company committed to innovation and sustainability. ATS now has a great opportunity to expand the range of products and services we provide to our customers as part of the Energystore team.”
Industrial action at Aer Lingus: How will it impact passengers?
Connor McCandless, managing director of Energystore and a finalist in the established category of this year’s EY Entrepreneur of the Year competition, said it was an easy decision to “join forces” with ATS, given its existing relationship with the company.
“We have been looking at opportunities to grow Energystore’s footprint across the UK and we felt that ATS’s culture, values and growth ambitions were very aligned with our own,” he said. “Like us, they are a company that is committed to delivering quality work and to supporting the communities they work in.”
Now its 50th year of operation, Energystore is based in Co Down with production sites across Northern Ireland and the Republic including near Roscrea, Co Tipperary and in Preston and Northampton in England.
The company, owned by Mr McCandless and his family, does not publish its annual revenue figures. Accounts filed recently with Companies House in the UK, however, show Energystore generated after-tax profits in excess of £1.7 million in the year to the end of March 2023, up from £1.6 million in the previous year.
Energystore employed more than 80 people last year and recently announced a £2 million investment aimed at helping the business transition to net zero over the next four years.
- Sign up for Business push alerts and have the best news, analysis and comment delivered directly to your phone
- Join The Irish Times on WhatsApp and stay up to date
- Our Inside Business podcast is published weekly – Find the latest episode here
