Portwest, the Westport-based international workwear clothing and personal protective equipment manufacturer, has announced the acquisition of Westaro Hosing in Castlebar.
Westaro Hosing is also in the workwear and safety space, and the deal will be subject to CCPC review.
Founded in 1988, Westaro Hosing supplies a wide range of protective clothing, footwear, safety, industrial hosing, and gardening products.
Westaro stocks brands such as Dunlop Wellingtons, Flexothane Rainwear, No Risk Footwear, Globus Gloves, Cofra Footwear, Lee Cooper Workwear, JSP Safety Products & NTS Hosing & Fittings.
The business is owned equally by directors John Lavelle (68) and Vincent Kenny (66), and employs 20 people.
In Association with
Westaro Hosing Ltd had net worth of €4.3m in December 2021 after booking a net profit of €640,000 in 2021.
Year-end stocks were valued at €3m, up from €1.9m, and balance sheet cash reduced from €1.3m to €290,000.
Balance sheet assets included listed investments valued at €840,000, while year-end creditors amounted to €2.8m.
Vincent Kenny commented: “We are confident that Portwest’s investment along with their knowledge and expertise in the industry will provide the best outcome for our employees, customers and suppliers.”
Having previously acquired three companies outside Ireland, Westaro is Portwest’s first purchase in Ireland.
Portwest head of corporate finance Helen Noud said: “Acquisition of market leading workwear and safety companies is key part of the Portwest group’s global growth strategy, and we are delighted to be able to secure this deal within the Irish market.”
Founded in Westport, Co. Mayo in 1904, Portwest is owned and run by the Hughes family, headed up Harry Hughes and his brothers Cathal and Owen.
Portwest employs c.5,100 people worldwide and has warehousing facilities in Ireland, UK, Poland, Dubai, Australia, and USA. The company operates fully owned factories in Bangladesh, Myanmar, Italy and Albania.
Portwest Ireland CEO Rachel Davoren stated: “We look forward to working with Vincent Kenny and the team at Westaro over the coming years, we are excited about expanding and enhancing our offering to our customer base in Ireland.
“We will retain all staff from the company ensuring a smooth and seamless transition with both companies operating independently until 2024.”
