Energystore acquires fellow NI insulation company WarmFill in expansion backed by Danske Bank

The acquisition was backed by Danske Bank.

energystore manufactures, supplies and installs a range of products, including their EPS bonded cavity wall insulation superbead and energystore TLA, an insulation designed for floors and roofs, all of which are designed to make homes as thermally efficient as possible.

It is committed to developing and installing products that create a cleaner environment and improve energy efficiency wherever they are used.

The business has five production sites across the UK including Lisburn, Newtownards and Belfast, serving homeowners and commercial customers, such as new build developers and housing associations.

Larne-based WarmFill operated in a similar market and following the acquisition, energystore will be the largest manufacturer of EPS bead insulation in the UK and Ireland, with a total of 92 staff, including all of WarmFill’s employees.

Under the terms of the deal, energystore will also take over WarmFill’s facility in Larne, to further support its ambitious growth plans.

The site gives the company scope to diversify and upgrade its products and further capacity to expand its local operations to meet growing demand for energy efficient products.

Highlighting how the acquisition will strengthen their business, Conor McCandless, director UK Operations energystore, said: “WarmFill is an excellent fit for the energystore brand as both companies share similar values centred on making homes more energy efficient.

“Our company is passionate about helping our customers to lower their carbon emissions but also about helping to alleviate fuel poverty – an issue that is especially relevant as we head into winter with energy costs rising.

“The acquisition will strengthen our business, increase the positive impact we can have in addressing these societal challenges and help us to realise plans for further growth across the UK and Ireland.

“Danske Bank saw the strategic importance of the deal and were very supportive in getting finance in place to make it happen.”

Outlining that the support will enable the firm with their future growth plans, Michelle Wilson, business manager at Danske Bank, continued: “Danske Bank was pleased to be able to support this acquisition, which will help Energystore accelerate its growth plans and its contribution towards helping households and businesses become more energy efficient.

“This aligns with our own agenda at Danske Bank to continue to reduce our own carbon emissions and to help customers throughout the province become more sustainable.”

A message from the Editor:

Thank you for reading this story on our website. While I have your attention, I also have an important request to make of you.

In order for us to continue to provide high quality and trusted local news on this free-to-read site, I am asking you to also please purchase a copy of our newspaper whenever you are able to do so.

Our journalists are highly trained and our content is independently regulated by IPSO to some of the most rigorous standards in the world. But being your eyes and ears comes at a price. So we need your support more than ever to buy our newspapers during this crisis.

With the coronavirus lockdown having a major impact on many of our local valued advertisers - and consequently the advertising that we receive - we are more reliant than ever on you helping us to provide you with news and information by buying a copy of our newspaper when you can safely.

You can also enjoy unlimited access to the best news from across Northern Ireland and the UK by subscribing to newsletter.co.uk

With a digital subscription, you can read more than five articles, see fewer ads, enjoy faster load times, and get access to exclusive newsletters and content. Visit https://www.newsletter.co.uk/subscriptions now to sign up.

Thank you