THE acquisition of a Waterford-based engineering company, in receivership since March, has “initially saved 30 of the 94 jobs”, according to its new buyers.
William Bolster, of the Bolster Group of companies, and Helen Walsh, who has extensive experience in working with multi-national manufacturing companies, acquired Ellickson Engineering Ltd last month.
A spokesman for the buyers said Mr Bolster and Ms Walsh “plan to grow and develop the concern”.
The parties acquired the company’s assets from Michael McAteer of Grant Thornton, who was appointed receiver to Ellickson Engineering on March 25, ten days after the facility on the outskirts of Waterford closed its doors.
Ellickson Engineering was founded 42 years ago and at its peak employed over 140 people with an annual turnover of €25 million.
The new owners plan to retain the Dublin and Waterford sites.
Mr Bolster said: “Ellickson Engineering Ltd has a sound reputation as a company that provides innovative solutions to clients all over Ireland, particularly in the pharmaceutical, food processing, commercial and retail sectors.”
Ms Walsh said: “We look forward to growing and expanding the business over the coming years.”
“We intend to continue to serve the existing loyal customer base all over Ireland while also developing new products, particularly in the fabrication area where we plan to work with architects and engineers to expand the business at national level.”
Mr Bolster yesterday “paid a special tribute to the employees of Ellickson Engineering Ltd who continued to provide an emergency service” to customers all over the country since the company went into receivership.
“Ellickson Engineering Ltd. is a long established company with an excellent reputation, a sound customer base and loyal employees, who kept it going through recent difficulties,” said Mr Bolster.
“We want to build on the loyalty of customers and employees, return the business to its glory days and to continue to develop as the opportunities arise.”
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