The insulation manufacturer from Holywood, Co Down, Energystore, has recently purchased the Scottish flooring expert, Advanced Traditional Screeding (ATS), for a confidential deal.
The transaction would generate an additional income of £5 million (€5.9 million) for the Northern Ireland firm and enable it to expand its business across the UK, as per the company’s spokesperson.
ATS, situated in Fife and a long-term buyer of Energystore’s premium bonded bead wall cavity insulation system, was founded in 2014. It collaborates with commercial clients across Scotland and the rest of the UK, focusing on pre-construction and construction flooring installation.
Within the group, the Scottish firm will continue operating as a separate business, retaining all of its 17 employees, stated a spokesperson.
Jason Lister, founder and director of ATS, who will maintain his position after the acquisition, stated that the company has witnessed fast growth recently, recognising Energystore’s commitment to innovation and sustainability. He believes that ATS now has an excellent chance to widen its product and service offerings as part of the Energystore team.
Connor McCandless, the managing director of Energystore and a nominee in this year’s EY Entrepreneur of the Year contest, confessed that it was a straightforward choice to merge with ATS. He cited their existing relationship and ATS’s alignment with Energystore’s culture, values, and growth objectives. McCandless believes both companies are committed to delivering quality work and supporting their local communities.
With a history of 50 operational years, Energystore has its base in Co Down and production facilities across Northern Ireland and the Republic, including around Roscrea, Co Tipperary, and in Preston and Northampton, in England. Owned by the McCandless family, Energystore does not reveal its yearly earnings. However, data from Companies House in the UK shows that the company made over £1.7 million in after-tax profits for the financial year ending March 2023, a rise from the previous year’s £1.6 million.
The company welcomed more than 80 employees last year and recently unveiled a £2 million investment plan, aiming to transition their business to net zero over the next four years.