17/01/2012
Workspace Buys Energy Firm Therm Tech
One of Northern Ireland's most successful social enterprises, The Workspace Group, has acquired Manchester-based energy-saving technology specialist Therm Tech Limited, bolstering its UK-wide reach and its ability to win even more business in the growing energy-saving sector, it has been announced.
Based in Ashton-under-Lyne, Greater Manchester, Therm Tech manufacture state-of-the art energy saving solutions for a range of commercial and industrial uses. These include the provision of heat recovery and recycling systems through to industrial super-sized heaters and activated carbon technology.
A provider of enterprise units, business support programmes, recruitment services and employability initiatives, Workspace already owns Northern Ireland’s largest home insulation provider Homeseal and energy efficient lighting firm Environment 2000. Last year, the group pledged to almost double its annual sales from £7.6 million in 2010 to £14 million within the next four years.
Launching its four-year plan in November last year, the Draperstown-based group said it was seeking to raise its game locally, nationally and internationally with an increasing focus on growing sales through both organic growth and business acquisition.
Workspace Chief Executive Brian Murray said the decision to acquire Therm Tech was a relatively straightforward one: "Therm Tech Limited is an already well-established business with an established customer base, a strong focus on its customers' needs and an excellent reputation. This acquisition is a perfect fit for our growth strategy as it extends our capabilities and expertise in energy efficiency.
"Finding the right acquisition to complement our existing business has been a top priority for us and we're delighted that this deal marks a significant milestone for further growth in 2012."
Workspace Group chairman, Michael McAllister, added: "We're really delighted to welcome Therm Tech and its hard-working team to The Workspace Group of companies. I believe that by leveraging our combined strengths to focus on emerging market opportunities, we will all be in a better position to make great headway in the years ahead, as we expand our offering and lock in growth for the future."
Set up to stimulate social and economic regeneration in the Magherafelt area, The Workspace Group employs 117 people at five locations in Mid-Ulster, as well as from offices in Donegal and Wales. Its green energy subsidiary, Environment 2000, was recently awarded a contract to retrofit its energy efficient lighting system on part of Glasgow's underground system.
(CD/GK)
Based in Ashton-under-Lyne, Greater Manchester, Therm Tech manufacture state-of-the art energy saving solutions for a range of commercial and industrial uses. These include the provision of heat recovery and recycling systems through to industrial super-sized heaters and activated carbon technology.
A provider of enterprise units, business support programmes, recruitment services and employability initiatives, Workspace already owns Northern Ireland’s largest home insulation provider Homeseal and energy efficient lighting firm Environment 2000. Last year, the group pledged to almost double its annual sales from £7.6 million in 2010 to £14 million within the next four years.
Launching its four-year plan in November last year, the Draperstown-based group said it was seeking to raise its game locally, nationally and internationally with an increasing focus on growing sales through both organic growth and business acquisition.
Workspace Chief Executive Brian Murray said the decision to acquire Therm Tech was a relatively straightforward one: "Therm Tech Limited is an already well-established business with an established customer base, a strong focus on its customers' needs and an excellent reputation. This acquisition is a perfect fit for our growth strategy as it extends our capabilities and expertise in energy efficiency.
"Finding the right acquisition to complement our existing business has been a top priority for us and we're delighted that this deal marks a significant milestone for further growth in 2012."
Workspace Group chairman, Michael McAllister, added: "We're really delighted to welcome Therm Tech and its hard-working team to The Workspace Group of companies. I believe that by leveraging our combined strengths to focus on emerging market opportunities, we will all be in a better position to make great headway in the years ahead, as we expand our offering and lock in growth for the future."
Set up to stimulate social and economic regeneration in the Magherafelt area, The Workspace Group employs 117 people at five locations in Mid-Ulster, as well as from offices in Donegal and Wales. Its green energy subsidiary, Environment 2000, was recently awarded a contract to retrofit its energy efficient lighting system on part of Glasgow's underground system.
(CD/GK)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
13 August 2009
Draperstown Gets Workspace Boost
A new workspace development in Draperstown could create up to 35 jobs and help to stimulate economic growth in the local area. That was the message from Stormont Enterprise Minister, Arlene Foster, when she officially opened the 8,500 square foot development, this week.
Draperstown Gets Workspace Boost
A new workspace development in Draperstown could create up to 35 jobs and help to stimulate economic growth in the local area. That was the message from Stormont Enterprise Minister, Arlene Foster, when she officially opened the 8,500 square foot development, this week.
24 April 2009
Patton Group Picks Up Top Innovation Award
Ballymena-based Patton Group has been commended for its innovation at a recent awards ceremony. The firm scooped the Excellence in Innovation title at the 2009 Belfast Telegraph Northern Ireland Business Awards.
Patton Group Picks Up Top Innovation Award
Ballymena-based Patton Group has been commended for its innovation at a recent awards ceremony. The firm scooped the Excellence in Innovation title at the 2009 Belfast Telegraph Northern Ireland Business Awards.
29 October 2001
Draperstown Group wins 500th IiP accolade
The Workspace Group in Draperstown has been awarded Northern Ireland’s 500th Investors in People (IiP) accreditation. The award was presented to the company by Dr Sean Farren, Minister for Employment and Learning, who paid tribute to the contribution the organisation has made to community and economic development in the area over the last 15 years.
Draperstown Group wins 500th IiP accolade
The Workspace Group in Draperstown has been awarded Northern Ireland’s 500th Investors in People (IiP) accreditation. The award was presented to the company by Dr Sean Farren, Minister for Employment and Learning, who paid tribute to the contribution the organisation has made to community and economic development in the area over the last 15 years.
16 April 2003
Manufacturing group lobby against workspace tax
The Northern Ireland Manufacturing Group has held meetings with SDLP MP John Hume and UUP MP Jeffrey Donaldson to highlight the potential consequences of the proposed new tax on manufacturing.
Manufacturing group lobby against workspace tax
The Northern Ireland Manufacturing Group has held meetings with SDLP MP John Hume and UUP MP Jeffrey Donaldson to highlight the potential consequences of the proposed new tax on manufacturing.
22 November 2011
Workspace Sets £14m Sales Target In Ambitious Growth Plan
One of Northern Ireland’s leading social enterprises, the Workspace Group, has announced an ambitious business plan aimed at achieving sales of £14 million by 2015. The Draperstown-based company, which recently celebrated its 25th anniversary, has already delivered a 600% increase in turnover inside a decade, rising to £7.6 million by 2010.
Workspace Sets £14m Sales Target In Ambitious Growth Plan
One of Northern Ireland’s leading social enterprises, the Workspace Group, has announced an ambitious business plan aimed at achieving sales of £14 million by 2015. The Draperstown-based company, which recently celebrated its 25th anniversary, has already delivered a 600% increase in turnover inside a decade, rising to £7.6 million by 2010.
-
Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.