Athlone Extrusions: Management Buy-out

Ireland’s Athlone Extrusions has undergone a management buyout from the Quinn Group, for a sum reported at EURO55m. A report in the Irish Times said Athlone managing director James McGee, together with Enda Cunningham and Jackie Brown, had bought the company. A Quinn Group spokesman confirmed the business had been sold. He said the factories in the Czech Republic and at Newbridge, south of Dublin, will remain under Quinn ownership.
Athlone was part of the Barlo Group, which was bought by Northern Irish family firm Quinn Group earlier this year. An MBO at Athlone was originally mooted when Barlo chief executive Dr. Anthony Mullins announced plans to buy out the Barlo Group. When Mullins’ bid failed, the sale of Athlone was put on hold.Athlone Extrusions manufactures extruded sheets and film in PS, ABS and PMMA/ABS.It has installed capacity of around 27,000tpa and has sales offices in Birmingham, UK and Tilburg, the Netherlands.

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