Private equity firm Waterland Ireland has acquired a majority stake in Mullingar-headquartered fire protection firm Writech.

The size of the investment by Waterland was not disclosed.

Writech was founded 40 years ago and specialises in the design, manufacturing and servicing of fire protection systems for a range of businesses.

It had total sales of more than €20m last year, and was recently granted planning permission for a new Design and Innovation Centre in Mullingar.

It said the new investment would go towards this new centre, while also helping to accelerate its plans to grow the business in the UK and Europe.

"We are delighted to be partnering with the Waterland team who are experienced in working with family businesses and share our vision for creating a European leader in the fire safety market," said Writech CEO Ted Wright. "Waterland's support is a great reflection on our people and the quality of our business, and we look forward to working with them over the coming years."