Hampiðjan has signed an agreement to acquire International Rope Braid (IRB), a company located on the Gold Coast, just south of Brisbane on the East coast of Australia. The company was founded 20 years ago, in 2005. The founders and owners of IRB, Dave and Suzy Allan, will sell their entire shareholding but will support the acquisition process over the coming months to ensure a smooth transition of the business.
IRB’s operations will be included in Hampiðjan’s consolidated accounts from August 1st.
IRB specialises in manufacturing various types of braided ropes and twine for aquaculture, yachting, sailmakers, cable pulling, marine, mining, and rope coverbraiding.
IRB’s turnover has remained stable in recent years at around €1.7 million per year, with EBITDA just over €0.4 million in the last financial year. The company employs a total of 16 people.
Approximately a 30-minute drive to the north is Hampiðjan Australia, which serves as the group’s local headquarters. Cooperation between the two companies has been close and steadily growing. Hampiðjan has supplied IRB with high-performance ropes manufactured at Hampiðjan Baltic in Lithuania, while IRB has provided Hampiðjan Australia with braided ropes and specialised coverbraiding for ropes used in the mining industry.
Although Hampiðjan Baltic is capable of carrying out most of the work IRB currently performs for Hampiðjan Australia, the transport time and costs are too high to serve the Australian market with acceptable delivery times—particularly when specialised cover braids are required on core ropes.
It is planned that IRB and Hampiðjan Australia will operate as sister companies for the next few years. Several synergies are expected, including closer cooperation between the companies, more favourable pricing for raw materials (many of which are also used by Hampiðjan Baltic), and expanded opportunities for Hampiðjan New Zealand through access to IRB’s products.
Suzy and Dave Allan said:
“We are thrilled to leave our company and particularly our team, who mean so much to us, in such capable hands. We are confident that the future of IRB under Hampiðjan’s ownership will be strong and that they will continue to forge even stronger relationships with our team, customers, and network.”
Thorsteinn Benediktsson, Director of Hampiðjan Australia, said:
“Australia is far from everything, and over the years we have had to rely on airfreight, which is expensive and often still too slow to meet our customers’ needs. Dave Allan at IRB has supported us many times with special coverbraiding for our ropes. His skills and willingness to help have been outstanding. Dave has trained his team well, and they are now ready to take over once he and Suzy retire.”
Hjörtur Erlendsson, CEO of Hampiðjan Group, said:
“The acquisition of IRB is a vital step in further developing our operations in Australia, enabling us to better serve both the Australian and New Zealand markets. It is difficult to achieve acceptable delivery times for coverbraided ropes from our manufacturing facilities in Europe. IRB will benefit from our established markets in Australia and New Zealand, as well as from our extensive knowledge of materials and production technology, helping to grow the business further. We look forward to working with the dedicated and skilled team at IRB and thank the owners, Dave and Suzy, for the constructive and positive dialogue during the sales process, and for their continued support in the coming months to ensure a smooth transition of the operation.”
