CARRYDUFF-based bathroom manufacturer Adamsez has created eight new jobs after securing a £400,000 loan from the £50 million Growth Loan Fund to invest in research and development to help it develop new products and to expand its reach across Europe.
And it brings total new investment in the family-owned business to more than £1 million since it was acquired a year ago by private investors from the business angel network Halo in a deal worth £750,000.
Established in 1885, Adamsez currently employs 26 people. Its product range includes baths, showers, whirlpools and accessories, with over 300 stockists in the UK and Ireland. The brand is also exporting to China and Singapore.
Director Ciaran Hunter said: “The business has been around for 130 years and we are one of the few remaining bathroom manufacturers to still make our products in the UK.
"When we purchased the company last September we wanted to keep on this tradition and build on the success of the business as we saw it had great potential.
Exports outside Northern Ireland make up the majority of the company’s sales, and Mr Hunter said: “We're currently exporting 80 per cent of our products, which we hope to increase to 90 per cent in the next year. We expect to have exports going into Holland and India in the next 12 months.
“As well as creating eight new full time jobs we are aiming to offer three apprenticeships in the coming year.”
James McCormick, co-director at Adamsez, added: “The loan received has helped us to purchase the latest technology to support our R&D efforts. We have invested in new ovens, moulds, clean rooms and developed new materials including specialist stone resins. It will also help support our launch into other export markets while helping us reinforce our UK salesforce.
“Over the next 12 months we have plans to introduce a new range of baths and shower enclosures, rebuild sales in the UK and Ireland as well as building our export markets in Europe and the Far East.”
Neil McCabe, senior investment manager at WhiteRock Capital Partners said: “Northern Ireland has an enviable offering of manufacturers and Adamsez is one of several we have recently supported.
“Ciaran and James have placed a strong emphasis on R&D and are dedicated to investing in the latest technology to improve their products. This commitment and work ethic is something we look for in all Growth Loan Fund recipients.”
Finance for the Growth Loan Fund – which provides loans to established Northern Ireland SMEs seeking to access growth finance – has been provided by Invest NI and the Northern Ireland Local Government Officers’ Superannuation Committee (NILGOSC).
