Ellickson Engineering Ltd, the Waterford-based company that went into receivership in March, has been acquired by two local business people who plan to grow and develop the concern. Initially, 30 of the 94 jobs will be saved and there are plans to expand as demand grows.

William Bolster of the Bolster Group of companies and Helen Walsh, who has extensive experience in working with multi-national manufacturing firms, announced that they had jointly acquired the company’s assets from Michael McAteer of Grant Thornton who was appointed receiver on March 25 after the facility in the Ferrybank area closed on March 15.