DUNGANNON-based door designer and manufacturer O & S Doors has been acquired by private equity firm Sun European Partners for an undisclosed sum.
The company, established in 1988, is one of Co Tyrone's manufacturing success stories, employing more than 350 people and which in its last full trading year made a pre-tax profit of £6 million on a turnover of £32 million.
O&S has expanded rapidly in the last decade and has built up a 1,000-strong customer base ranging from independent kitchen fitters to wholesalers and distributors across Britain and Ireland.
Company director Peter O'Donnell said he was "delighted" at the acquisition, which he believes will further help develop the company and strengthen its offering in the marketplace.
"For many years we have been committed to investing in the local marketplace and building a future not only for the company but also for the workforce who have supported us through our growth and development to date.
"We believe this acquisition will enhance the opportunity for the company to continue to develop for many years to come.”
Chris Carney, vice president at Sun European Partners, said: “O&S is an exciting company known in the market place for its exceptional customer service, reliability and product quality.
"It has traded well through all economic cycles and we believe that, with Sun’s support, there is significant scope to increase market share and build upon the valuable customer relationships. We look forward to working with the management team on the next stage of O&S’s growth.”
Sun European Partners has significant experience making acquisitions in the UK.
Among its affiliated portfolio companies it has a number of leading businesses including Dreams, the UK’s leading bed and mattress specialist; Bonmarché, one of the UK’s largest value retailer focused on selling quality womenswear to the over 45s; and American Golf, the largest golf retailer in the UK.
O&S operates between its purpose built manufacturing site and a trade centre near Dublin.
Through significant past investment in plant and machinery, it offers customers the highest quality bespoke kitchen and bedroom door solutions across a wide range of door types and with unsurpassed lead times.
Barry-John Kelly of PwC corporate finance led the deal on behalf of O&S.
