Fusion Building Systems entire factory is being shipped from Cork to Northampton after it was acquired by private equity

Private equity investors have bought up steel-frame firm Fusion Building Systems and are moving the 260-tonne factory from Cork to Northampton.

The Irish steel frame building manufacturer has been bought out of receivership by acquisition vehicle Salvesen Insulated Frames, which has been set up by Tom Salvesen of the Salvesen haulage family.

The cost of the acquisition is believed to have been just over £1m and the firm has been handed £2m of capital and is currently reengaging clients.

Tom Salvesen said: “Fusion is and always has been an excellent business, trading profitably and delivering first class innovative and sustainable building solutions. We will be investing in the continued development of the product to drive forward the modern methods of construction agenda to improve on site safety, reduce onsite time-scales and de-risk major building projects.”

Around 260 tonnes of plant and machinery is now being shipped from sites in Cork to a new 80,000 sq ft building at Moulton Park in Northampton.

Liam Morrisey, operations manager, said: “Despite the challenges of moving heavy machinery across the Irish Sea, our move is ahead of schedule and our new premises are now taking shape. Re-siting the main EPS machine proved to be quite testing, at some 50 tonnes it would be fair to say my heart was in my mouth at times, but it’s here and is now being reconnected.”

Fusion Building Systems was part of the receivership of its parent company John J Fleming Construction. Before folding it had a turnover of around £25m and has specialised in providing frames for care homes and apartments.

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