Midven makes ceramic investments
A Newcastle-under-Lyme ceramic manufacturing business has been bought by a new company backed by specialist venture capitalist Midven.
Silverdale Bathrooms, supported by Midven's Exceed Partnership and Skipton Business Finance, bought the ceramic bathroom and kitchen sink manufacturer under licence from the Jacuzzi Group.
The Silverdale site has been manufacturing "high-end" ceramic bathroom pieces for almost 30 years and is set to continue manufacturing the luxury BC Sanitan and Jacuzzi brands marketed to bathroom specialists throughout Europe.
The deal, for an undisclosed sum, is set to safeguard 50 jobs and could create more as customer service and kitchen sink activities are scaled up.
Surjit Kooner, investment director of Midven, said: "This is a sector in which this region excels – and it is great news that not only have jobs been secured but that the company's prospects are looking bright.
"Silverdale will be operating from a well laid out manufacturing facility producing high quality, hand crafted products with an industry experienced management team."
Silverdale is being led by Mark Prince, former managing director of Jacuzzi UK, and Dave Tutton, former marketing director, both of whom have invested in the new company.
