A major door maker based in Co Tyrone has been sold to a US based investment company for an undisclosed sum.
O&S Doors in Benburb is to be acquired by acquired by an affiliate of Sun European Partners, LLP in a deal hailed by O&S director Peter O’Donnell as hugely positive for the company.
Founded in 1988, O&S employs more than 360 people between its purpose built manufacturing site and its trade counter near Dublin.
Through significant historical investment in plant and machinery, O&S offers customers the highest quality bespoke MTM kitchen and bedroom door solutions across a wide range of door types.
The company has expanded rapidly, with revenues of over £35m across more than 1,000 customers, ranging from independent kitchen fitters to wholesalers and distributors across the UK and Republic of Ireland.
“We are delighted to make this announcement today and we believe this acquisition will further help develop the company and strengthen its offering in the marketplace,” Mr O’Donnell said.
“Our company has for many years 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 described O&S as “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.”
Barry-John Kelly of PwC Corporate Finance, who led the deal for O&S said: “We are delighted to have worked with O&S to secure the right investment partner to enable it to continue its impressive growth story. O&S once again demonstrates the ability for Northern Ireland businesses to become market leaders across the UK & Ireland.”
Sun European Partners has significant experience in the UK. Among its affiliated portfolio companies is leading bed and mattress businesses Dreams and and American Golf, the country’s largest golf retailer.