Monday 22 October 2018

Bathroom equipment maker Broadlake-backed Merlyn Showering seeks buyer

The Kilkenny-based bathroom equipment maker Merlyn Showering has courted potential buyers in recent months. Photo: Stock image
The Kilkenny-based bathroom equipment maker Merlyn Showering has courted potential buyers in recent months. Photo: Stock image
Gavin McLoughlin

Gavin McLoughlin

The Kilkenny-based bathroom equipment maker Merlyn Showering has courted potential buyers in recent months.

The Sunday Independent understands that a purchase could value the company, which does most of its business in the UK, in excess of €50m.

The business had operating profits of some £4.4m (€4.9m) in the year ending March 31, 2016, on turnover of almost £26m, according to its most recently filed accounts.

"The year-end financial situation was as expected and the directors view the coming year with confidence," the accounts state.

One of its key backers is SME investment business Broadlake, which took a minority stake in the business in 2015.

Broadlake chief executive Pete Smyth previously said Merlyn was "a great example of a dynamic entrepreneurial Irish business with an international footprint that supplies world class products to a range of blue chip customers". Merlyn founder Michael Hoyne said the Broadlake deal was "an amazing opportunity for Merlyn to grow even further".

Merlyn did not respond to a request for comment. Broadlake, which has stakes in tanning business Vita Liberata among others, declined to comment.

Sunday Indo Business

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