Ellickson Engineering Ltd., the Waterford based company that went into receivership in March, has been acquired by two local business people who plan to grow and develop the concern, initially saving 30 of the 94 jobs with plans to expand as demand grows.

William Bolster of the Bolster Group of companies and Helen Walsh, who has extensive experience in working with multi-national manufacturing companies, yesterday announced that they have jointly acquired the company’s assets from Michael McAteer of Grant Thornton, who was appointed receiver to Ellickson Engineering Ltd on March 25 after the facility on the outskirts of Waterford city closed on March 15.

Ellickson Engineering was founded 42 years ago and at its peak employed over 140 people with an annual turnover of €25 million. In addition to Waterford, it had offices in Dublin, Belfast and Cork. The new owners plan to retain the Dublin and Waterford sites.

"Ellickson Engineering Ltd has a sound reputation as a company that provides innovative solutions to clients all over Ireland, particularly in the pharmaceutical, food processing, commercial and retail sectors," said William Bolster. "The Bolster business was established by my father in 1966, three years ahead of Ellickson Engineering Ltd., and both companies share many common customers so there is a great synergy associated with the new project."

Helen Walsh, following a career working with multi-national companies such as Bausch + Lomb, Glaxo Animal Health and others has in recent years been a strategic business planner and management development consultant with many private companies. Ms Walsh said she was looking forward to building on the nation-wide brand and excellent reputation enjoyed by Ellickson Engineering Ltd.

"We look forward to growing and expanding the business over the coming years," said Ms Walsh. "We intend to continue to serve the existing loyal customer base all over Ireland while also developing new products, particularly in the fabrication area, where we plan to work with architects and engineers to expand the business at national level."

William Bolster also paid a special tribute to the employees of Ellickson Engineering Ltd. who continued to provide an emergency service to customers all over the country since the company went into receivership.

"Ellickson Engineering Ltd. is a long established company with an excellent reputation, a sound customer base and loyal employees, who kept it going through recent difficulties," said Mr Bolster. "We want to build on the loyalty of customers and employees, return the business to its glory days and to continue to develop as the opportunities arise."

Issued by Michael Bance, Bance Nolan Ltd. 051 – 845403; 087 – 2462875 on behalf of the Bolster Group www.bolstergroup.com