Dutch private equity investor Waterland is making what it calls ‘significant investment’ in family firm Writech.

The Mullingar company designs, makes and installs fire protection systems. Founded in 1981 by Mary and Thomas Wright, sons Ted Wright (44) and Alan Wright (47) have been leading the business since 2008 and jointly own the venture.

The company says that turnover in 2020 was over €20m, and earlier this year it secured planning permission for a new Design and Innovation Centre in Mullingar.

Writech CEO Ted Wright commented: “We are delighted to be partnering with the Waterland team, who are experienced in working with family businesses and share our vision for creating a European leader in the fire safety market.

“Having such a strong and experienced partner unlocks exciting new opportunities for organic and acquisition led growth in Ireland, the UK and Europe. Waterland’s support is a great reflection on our people and the quality of our business, and we look forward to working with them over the coming years.”

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Teal Wright Holdings Ltd had turnover of €16.8m in the year to June 2019 and booked an operating profit of €5m. The company declared an interim dividend of €4m for its two shareholders.

Donal Mac Nioclais, investment director, Waterland Private Equity Ireland, stated: “Writech has a great track record and reputation in the industry for unmatched product quality, customer service, technical innovation and safety. We are very excited about the future prospects for the business.”

Headed in Ireland by Laura Dillon, Waterland is an independent private equity group set up 21 years ago in Holland with over €8bn in assets under management. It typically targets for investment companies with EBITDA of over €2.5m. To date, Waterland has made investments in over 650 companies and currently manages over €8 billion of investor commitments.

Photo: Ted Wright, Alan Wright and Donal Mac Nioclais (left)