Gowan closes deal on Senator Windows

THE owners of Wexford-based Senator Windows are in line for a multimillion euro windfall after selling the company to the Gowan Group.

Senator Windows has been in business for more than 20 years and is the top seller of PVC windows, doors and conservatories.

The company has a manufacturing plant in Wexford employing nearly 200 people and has 30 franchise outlets across the island of Ireland.

Its founders, Noel McSweeney and Des Corrigan, will both net substantial sums from Gowan Group, which is one of the biggest Peugeot and Citroen dealers in Ireland.

Neither the Gowan Group or Senator would comment on the price of the takeover last night, but given the built-up profitability in the company, the figure could be more than €10 million.

The most recent accounts for Senator Windows, for the year to end December 2005, show sales of almost €25m and total assets of nearly €12m.

Mr McSweeney and Mr Corrigan will remain in their current roles as executive chairman and executive director of Senator, which will be run as a separate company within the Gowan Group. It will be run by Kevin Richards, who was appointed managing director recently.

“Sales for 2006 are expected to grow by over 15% and the company will enter 2007 with an extremely strong order book,” said Mr McSweeney.

The Gowan Group is one of the largest privately owned businesses in Ireland. Aside from car dealerships it also distributes a number of brands ranging from Indesit to Aga.

It employs around 700 people with annual sales of €400m.