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The Latest Headlines from Tricel UK

News Desk UK

Tricel Acquires Magnum Venus Industries

June 10th, 2024

Tricel and Magnum Industries Europe Ltd. Announce Strategic Acquisition to Strengthen Composites Market Position

Tricel and Magnum Industries Europe Ltd. are delighted to announce a significant milestone in their companies. Tricel has acquired Magnum Industries Europe Ltd., a leading composite manufacturing equipment distributor. This strategic acquisition underpins both companies’ commitment to innovation, sustainability, and excellence in the composites industry.

About Magnum Industries Europe Ltd.

Founded in 1988 and based in the UK Midlands, Magnum Industries Europe Ltd. is renowned for its extensive range of composite manufacturing equipment. As the authorised distributor of Magnum Venus equipment and Chem-Trend sealers and release agents, Magnum Industries Europe Ltd. has been pivotal in serving the composites industry across the UK and Ireland. The company has notably advanced sustainability efforts in the composites industry by offering solvent recycling and water-based solvents and introducing a ‘flex moulding process’ for closed mould manufacturing, significantly reducing emissions.

Synergies and Growth

The acquisition by Tricel, a prominent distributor of composite raw materials across the UK and Ireland through its group companies in Leeds, Newry, and Dublin, provides Magnum Industries Europe Ltd. with access to enhanced resources, expertise, and an expanded market reach. This partnership is poised to elevate both companies’ capabilities and deliver a full suite of composite manufacturing products to a broad base of customers.

Leadership Statements

Robbie Larkin, Head of the Distribution Division at Tricel, expressed his enthusiasm about the acquisition: “We are delighted to welcome Magnum Industries Europe Ltd. into the Tricel group. This strategic acquisition perfectly aligns with our growth objectives, enabling us to broaden our range of composite solutions to our customers. We look forward to combining our strengths to drive innovation and provide exceptional value.”

Mark Owen, Managing Director of Magnum Industries, shared his excitement about joining the Tricel group: “I am thrilled to embark on this journey with Tricel. This acquisition presents a fantastic opportunity for Magnum Industries Europe Ltd. to accelerate our growth and expand our impact in the composites industry. Together with Tricel, we are well-positioned to continue our innovation, sustainability, and excellence efforts, delivering an unparalleled range to our customers.”

Future Outlook

The acquisition of Magnum Industries Europe Ltd. further solidifies Tricel Group’s position as a market leader in composites distribution. This partnership highlights both companies’ commitment to delivering superior products and services, fostering innovation, and advancing sustainability in the industry.

About the Tricel Group

Tricel is a multinational company specialising in developing, manufacturing and distributing products across various sectors. The company was founded in 1973 by Con and Anne Stack and has its headquarters in Killarney, Ireland, marking its 50th anniversary in 2023. 

In its beginnings, the company produced glass-reinforced plastic (GRP) products. By implementing a comprehensive growth strategy in the 1990s and 2000s, it expanded exports and established manufacturing facilities throughout the UK and Europe.

The Stack family leads Tricel in providing market-leading solutions in over 50 countries. Among the markets the company operates in are water storage and fire suppression, pumping solutions and servicing, sewage treatment tanks, composite products, and lubricant distribution.

Today, there are 17 companies in the Tricel Group, including six manufacturing facilities. The company employs 600 people at these locations. A key strategy for the company has been to manufacture locally, export, partner with local distributors, and acquire companies that enhance its product capabilities and geographical reach. In the next five years, the company will continue to drive growth by focusing on Customer Excellence, Innovation, and Sustainability