Loggenberg buys fire protection firm
SERIAL entrepreneur Saul Loggenberg has bought a £3m turnover engineering business, which specialises in protecting major buildings and structures from fire.
The Altrincham-based investor acquired Shropshire company Interact Fire Solutions from administrator Chamberlains, safeguarding eight jobs.
Interact provides fire retardant cladding, and has been used to safeguard landmark structures such as London’s Blackwall Tunnel and the Anzac Bridge in Sydney, Australia.
Mr Loggenberg believes the company, which has a unique technology, will be back in profit by January next year. He said: “Interact has big international potential and a unique product, and that’s what interests me.
“It was previously owned by a larger Irish company which refused to fund it when it ran into cashflow problems when major projects were delayed by the meltdown in the construction sector.
“I’m confident in a quick return to profit – all the big projects that were previously delayed are starting to come through.”
Interact’s management team led by MD Tony Tiernan have been retained by Mr Loggenberg, who has bought the business in a personal capacity, outside Bowdon Investment Group, his other key interest.
He explained: “Bowdon Investment Group continues to manage the portfolio of businesses, mostly in the UK and manufacturing-related, but this one is me flying solo.”
