Kilkenny-based shower enclosures company Merlyn Industries has been bought by Norcros for £60m (€68.3m).

The company, which was founded in 2000, employs 58 staff in Kilkenny - as well as a 16-person sales team in the UK, and nine people in Asia.

It recorded revenue of £30.7m (€35m) for the year to March, while profit for the period was £5m (€5.7m).

Around 85% of Merlyn's products are sold in the UK and mainland Europe.

Its current shareholders are the Hoyne family and the Dublin-based investment firm Broadlake.

Broadlake previously acquired a 30% stake in Merlyn in 2015.

Norcros is a business group specialising in branded bathroom and kitchen products, with operations in the UK and South Africa.

Merlyn will continue to be run by its existing management team led by company CEO, Charlie Soden and under Norcros’s ownership will further develop its Kilkenny operations.

Commenting on the deal, Merlyn Founder Michael Hoyne said: "Today is a special day in the development of Merlyn. With the support of Norcros, the business is well placed now to continue to grow and expand. This partnership will accelerate the company’s international growth and new product development ambitions."