Cimsa Finalizes Full Acquisition of Mannok

The Turkish industrial group Cimsa has completed its full takeover of the Derrylin-based company Mannok, securing the final remaining shares of the business. This move marks the conclusion of a transition that began in August 2024, when the Turkish firm initially acquired a 94.7 percent stake in the organization.

Strategic Consolidation of Ownership

For several months, the final 5.3 percent of the company remained held by a team of local shareholders. According to recent reports, Cimsa has now acquired this minority interest through its Irish subsidiary. The transaction was valued at £17.75 million, which is approximately €20.5 million. By finalizing this purchase, Cimsa has moved from a majority stakeholder to the sole owner of the business.

The acquisition process has been a significant development for the regional economy, as Mannok serves as a major employer in the area. The company, which operates across two primary divisions, maintains a workforce of approximately 800 employees. Following the initial 2024 acquisition, the Turkish group committed to retaining the established Mannok brand, providing a level of continuity for the existing operations and staff.

A Brief History of the Business

The company now known as Mannok has undergone several structural and brand changes over the past decade. It was formerly part of the business empire of Séan Quinn before being renamed Aventas in 2013. In 2014, a local consortium bought out the firm, operating it until the entry of the current Turkish ownership in 2024. The business adopted the name Mannok in 2020.

Key Takeaways

• Full Ownership: Cimsa has successfully acquired the final 5.3 percent of Mannok, moving to 100 percent ownership.
• Transaction Value: The final portion of the deal was completed for £17.75 million (€20.5 million).
• Operational Continuity: Despite the change in ownership structure, the company continues to operate under the Mannok brand with its existing workforce of 800 people.
• Timeline: The transition began in August 2024 with the initial purchase of a 94.7 percent stake, concluding in May 2026.

Looking Ahead

The completion of this takeover signals a new chapter for the Derrylin manufacturer. By consolidating control, Cimsa is positioned to integrate Mannok fully into its broader industrial strategy. For the local community and the company’s 800 employees, the retention of the Mannok brand and the conclusion of the buyout process provide a clear path forward under the new parent company’s oversight.