Pricoa sells Waterford Stanley

Pricoa Capital Group, the US private equity firm, has sold Waterford Stanley, an Irish iron cooker manufacturer, to UK business Aga Foodservice Group for E13.8m.

Pricoa Private Partners II invested in Waterford in August 2000 along with Michael Laffan for E21.4m.

The business employs 170 people and until recently there were fears of job losses following a restructuring period which saw a loss of E7.35m in the 2003/04 financial year. In the last financial year Waterford recorded a profit of E1.8m with a turnover of E29.3m.