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Bank of Ireland supports Management Buy-In at Ulster PVC Ltd

6th April 2009

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Ulster PVC, one of the UK’s leading manufacturers of bespoke modular framed motor sport awnings, has secured the jobs of its current workforce and is to launch an aggressive sales drive following a recent management buy-in funded by Bank of Ireland.

Ulster PVC, one of the UK’s leading manufacturers of bespoke modular framed motor sport awnings, has secured the jobs of its current workforce and is to launch an aggressive sales drive following a recent management buy-in funded by Bank of Ireland.

Based in a modern, purpose built 14,000 square ft production facility on the Glenavy Road just outside Lisburn, the company currently  employs a team of seven professionals to deliver complete customer solutions with in-house engineering, welding, graphics and IT departments.

The majority shareholding in the company was acquired from previous managing director Michael Maguire by current directors Gary Hancock and Ian McClelland, who have been instrumental in the growing success of the company over the last five years. 

With substantial repeat orders from high profile clients such as current WRC (World Rally Championship) champions Citroen Racing and Pirelli Motorsport, the Terapin branded product is fast becoming the awning of choice for many of the top international race teams.

Gareth Williamson, Commercial Manager at Bank of Ireland Northern Ireland, said: “This deal demonstrates how Bank of Ireland is working effectively with a local business to fund development and growth opportunities that are so crucial to the task of building a strong private-sector economy.

“Ulster PVC has an experienced and professional management team who have a clear strategic focus. This will ensure the business is well placed to grow in a very competitive global market.”

Director Gary Hancock added: “This is an exciting time for the business and with the support from Bank of Ireland we are able to grow our existing international client base.  We have invested heavily in the latest cutting edge technologies in order to expand our current product range which will help us build on our recent successes and achieve further significant growth in 2009.


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