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QBRC Consortium ‘zeroing in’ on offer for Aventas Group

Story by Seamus Enright

Tuesday, 15th April, 2014 3:25pm

QBRC Consortium ‘zeroing in’ on offer for Aventas Group

The Quinn Business Retention Company (QBRC) have told The Anglo-Celt they are now “rapidly zeroing in on a fully-funded offer” for the former Quinn-owned group of companies, now rebranded Aventas, which could materialise within “a matter of weeks”.
Fine Gael Cllr John McCartin from Ballinamore and Director of QBRC said that the consortium of local businessmen and former Quinn Group directors had made “significant progress” in formulating a bid for the former Quinn manufacturing businesses.
“We are rapidly zeroing in on a fully funded offer. We feel that we are within striking distance of an arrangement that will be in the best interests of the group, its current investors and the wider community,” Cllr McCartin said.
The news comes following the release of a joint cross-party statement from elected representatives from all main political parties in Fermanagh and South Tyrone calling on the board of directors of Aventas to postpone plans to sell off or break any part of the group until such time as all prospects of “keeping it intact and continued to be managed locally have been fully explored and exhausted”.
While not favouring any specific proposal or organisation in the takeover, the representatives say any initiative, which proposes to retain the businesses under a locally-based common management structure, should be fully explored “as a matter of priority”.
“There is a desire that this be done in advance of any piecemeal disposal of the constituent parts of the former Quinn Group,” reads the statement. “The representatives are of a common view that keeping the former Quinn Group of companies together would represent the best outcome for the local workforce and the best opportunity for future investment in the businesses locally.”
The group of representatives comprise Michelle Gildernew, Bronwyn McGahan, Joe Byrne, Lord Morrow of Clogher Valley, Phil Flanagan, Sean Lynch and Tom Elliott further condemned the ongoing incidents of sabotage and intimidation, which they said “run counter to the interests of this community”.
Cllr McCartin welcomed the statement from the northern elected representatives, saying the consortium takes great encouragement from the overwhelming support received from across the board thus far.
“QBRC has from the outset held the opinion that the group has more value as a whole. This value can be best realised in the long term through local management. Our sentiment has gained traction among investors.
“We hope that a formal offer can be made for the group in a matter of weeks. It is imperative that Aventas postpone any piecemeal disposal of assets until this offer has been finalised,” he said.

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