Co Down Adamsez in £750,000 take-over deal

Posted on 2 Sep 2014 by Victoria Fitzgerald

Adamsez, County Down-based bathroom manufacturer has been taken over by private investors.

The deal, with investors from Halo, the Northern Ireland business angel network, is worth more than £750,000.

The take-over news comes following the retirement of 85-year-old chairman Larry Dunlop.

Founded in 1885, the Carryduff organisation is one of the few bathroom manufacturers still producing and designing in the UK.

75% of sales come from beyond Northern, with products stocked by retailers including Beggs & Partners and Bassetts.

While Adamsez products are stocked by retailers such as Beggs & Partners and Bassetts, over 75% of sales are outside Northern Ireland.

Mr Dunlop said: “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.”

New owners James McCormick, managing director of Macspec Engineering, and Ciaran Hunter, chief executive of Arran Capital will continue to manufacture its products in Carryduff, as well as developing on its established success.

Ciaran Hunter said: “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.”