Fire protection group WTech has completed its takeover of Safety Fire Tech, its 10th acquisition in the past three years.
Cork-based Safety Fire Tech specialises in the supply, installation, commissioning, servicing and repair of fire safety systems and employs 26 professionals across its two offices.
The company carries out over 10,000 services annually and its clients include management companies, hotels, government agencies, schools, universities, and multinational corporations.
“We are delighted to embark on this exciting new chapter with WTech Fire Group, a trusted and strategic partner for our business. Over the past 22 years, Safety Tech Fire has built a reputation for delivering exceptional service and maintaining strong client relationships," said Patrick O'Donovan, managing director of Safety Tech Fire.
"As we move forward, I remain committed to leading the business with the same dedication to quality, personal values, and client care that have defined our success to date."
“On a heartfelt note, I would like to acknowledge the vital role my parents played during the first eight years of the business. The kitchen table served as my office, the garage as our storage space, my father managed logistics, and my mother handled the bookkeeping.
"I would also like to extend my gratitude to my wife, Louise, who served as a director for 12 years and played an instrumental role in the growth of the company. The early days of the company are just as significant as where we stand today.”
Accounts for operating company Rosbell Safety Tech Fire Ltd show Safety Fire Tech has made profits of €335,300 and €273,800 over the past two years.
WTech, which is backed by private equity group Waterland Ireland, is now one of Europe's largest fire protection groups with annual turnover of €136m following its acquisition spree. The Mullingar-headquartered business now employs over 600 people.
“Safety Tech Fire is a great business supported by a team of excellent people. This deal represents the continued realisation of our strategy to grow our business and strengthen our position as a leader in fire safety," said Ted Wright, CEO of WTech Fire Group.
"We are very excited about the future prospects for our growing group and look forward to working with Patrick and the team to build on their successes to date.
“We are unwavering in our commitment to protecting lives, property, the environment, and our communities. We achieve this through prevention, preparedness, collaboration and response. The addition of Safety Tech Fire perfectly aligns with and strengthens this mission.”
WTech Fire Group reported cashflow from operating activities of €2.5m last year, down from €4.7m in 2022, while revenues more than doubled year-on-year from €42.2m to €105.3m.
Photo: (l-r) Ted Wright and Evan O'Connell, director of Safety Fire Tech. (Pic: Supplied)
