Door firm BA Components' investment offers key for more growth
A Co Tyrone kitchen and bedroom door manufacturer has received a multi-million pound boost from private equity. BA Components in Cookstown was founded in 1990 by twins Brian and Kieran McCracken.
They have grown it into a multi-million pound business with 237 employees and pre-tax profits of £3.4m.
Now the company has received funding from H2 Equity Partners, which it said would enable it to continue investing in its manufacturing sites and bring out new product ranges.
Brian McCracken is staying in his role of managing director, while Kieran McCracken remains as operations director.
H2 partners Simon Gilbert and Cathal Turley are joining as directors.
BA has become a major UK manufacturer and exporter to the UK, European and global furniture components industry. It supplies over 50,000 doors a week to companies worldwide.
It already exports to 27 countries but is hoping to develop the potential of the Chinese and Middle East markets.
As well as its site in Cookstown, the company also manufactures in Doncaster in Yorkshire and at BA Clic Components in Rotherham, where it puts together its tool-less assembly ClicBox kitchen and furniture cabinets.
The Rotherham site was established last year.
A spokesman said: "BA are pleased to announce this significant new investment from H2 Equity Partners, which will support BA's strategy of continued investment in our manufacturing sites and bringing new product ranges to market and being able to serve all parts of the market.
"The aim is to become the UK's clear number one specialist door and furniture component manufacturer, and a one-stop-shop for mid-to-high-end doors and tool-free cabinets."
Brian McCracken added: "We chose to partner with H2 based on their good knowledge of our sector and excellent track record built up over 26 years of working with family-owned businesses.
"Both Kieran and myself will remain actively involved in the business and we look forward to working with H2 to build on the core drivers of BA's success, which are a broad range of high quality products and excellent customer service."
Simon Gilbert said: "This is an excellent opportunity for H2, investing in a market-leading business alongside the founders.
"We have been very impressed with the quality of the business and their focus on the customer, and look forward to continuing BA's success."
The McCracken brothers thanked economic development agency Invest NI for its support over the years, and thanked accountancy firm Hannaway CA and law firm Mills Selig for their work on the deal.
It is the second kitchen-related company in Northern Ireland to have been the subject of a big-money transaction in recent years.
Three years ago O&S Holdings, which makes kitchen and bedroom drawers and doors in Dungannon, was bought over by Sun European Partners.