Expanding Fired Up takes control of Aurora Marble
The Huddersfield-based firm said the acquisition of Aurora Marble strengthens its current offering to the UK fires and fireplace industry and contributes towards the company’s strategy of growth by acquisition.
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Hide AdIt said it will continue Aurora’s manufacturing operation at its existing site in Green Lea Mills, Dalton, Huddersfield.
Chief executive Richard Kaye said: “Under our management Aurora will continue to produce the same great products it always has but in a more efficient and sustainable manner, securing and growing Yorkshire manufacturing jobs.”
At the height of its success Aurora, which has been trading for 26 years, employed over 90 people and had an annual turnover of more than £9m. However due to the economic climate, and in part due to the downturn in the building industry, Aurora struggled to maintain profit, resulting in the company entering into administration on July 19. Fired-Up bought the firm for £300,000.
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Hide AdFired Up has retained five of the previous 15 Aurora employees and says it will recruit additional workers once it has incorporated Aurora into its brand.
Fired Up plans to reduce and refine overheads and operational process and says it expects “significant” growth.
In a statement, the company said: “Fired Up have weathered the current economic climate well and have experienced growth, both in the UK fireplace industry under the Adam Brand, and also in the global hotel and hospitality industry with the acquisition in 2009 of John Corby, makers of the Corby Trouser Press.
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Hide Ad“The latest acquisition of Aurora Marble strengthens the product offering to the fireplace industry and increases the Fired Up customer base. Fired Up currently count as clients leading high street retailers and over 200 independent retailers.”
Mr Kaye started his first business, Armco Security, in 1990 and moved into fireplace manufacturing in 1999, which led to the founding of the Fired Up Corporation.
The company built up a customer base of several high street retailers. Turnover was growing, but profits were not as margins came under increasing pressure from his customers.
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Hide AdMr Kaye decided to look at manufacturing in the Far East and went with Chris Chan, a Huddersfield University student, to look for opportunities in China.
They agreed a deal with a Chinese business to manufacture its products in 2005, but they had problems, first with quality and then when the subcontractor started selling Fired Up’s products in other countries.
Instead of finding another subcontractor, Mr Kaye “took the plunge” and incorporated a company in Hong Kong, which in turn incorporated a company in China and leased a factory. Mr Kaye commissioned a purpose-built factory there in 2009.