Private equity firm Waterland has acquired a majority stake in Mullingar headquartered fire protection firm Writech

The family owners of the Mullingar based company Writech which was founded 40 years ago and specialises in the design, manufacturing and servicing of fire protection systems for a range of businesses have sold a majority stake in the business to Waterland, a European private equity firm.

Brothers Alan and Ted Wright are confident that the move will see Writech’s turnover increase to €115m over the next three years. In 2020 Writech had total sales in excess of €20 million.

The two are already constructing a €1.2m research and innovation centre at their offices in Mullingar, which is to see them recruit in the region of 30 engineers in preparation for the expansion.

“We are hoping to make that expansion through mergers or acquisitions, and we will be then adding to the Writech portfolio, at least another 100 jobs over the next two years”.

It said the new investment would go towards this new centre, while also helping to accelerate its plans to grow the business in the UK and Europe.

We are delighted to be partnering with the Waterland team who are experienced in working with family businesses and share our vision for creating a European leader in the fire safety market,” said Writech CEO Ted Wright. “Waterland’s support is a great reflection on our people and the quality of our business, and we look forward to working with them over the coming years.”

 

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