Private investment company holds minority share
In its 15th year of trading, Merlyn Showering is set to received an undisclosed sum from private investment group Broadlake, which will take a minority share from July.
Merlyn will continue to be run by its current shareholders and senior management team and CEO of Broadlake Pete Smyth will join its board of directors.
According to Merlyn, the end of 2014 and early 2015 has seen the most product launches since the company’s inception in 2000.
Merlyn also reports there are further plans for product and market development , with this year claimed to be “one of extraordinary growth”.
Founder of Merlyn, Michael Hoyne commented: “This investment interest in our already fast-growing business demonstrates the thrilling opportunities the current economic and demographic climate affords. Now is the time for growth and development and we are delighted to be working with Broadlake; we will benefit from their experience of growing scalable businesses to reach our true potential”
Broadlake’s CEO Pete Smyth added: “Merlyn is a great example of a dynamic entrepreneurial business with an international footprint that supplies world class products to a range of blue chip customers. The team at Broadlake is excited about working with Michael, CEO Charlie Soden and the Merlyn senior management on the next stage of the Company’s exciting growth journey.”