QUINN group
| Privately owned | |
| Industry | Building Construction & Manufacturing, Hospitality & Property Management |
| Founded | 1973 as Quinn Group 2013 as Aventas Group |
| Headquarters | Derrylin, County Fermanagh, Northern Ireland |
| Products | Container Glass, Domestic and Specification Radiators, Cement, Tarmac, Thermal Blocks, Rooftiles, Prestressed Concrete, Polyurethane & Polystyrene Insulation, Packaging |
| Website | www |
The Aventas group, formerly the QUINN group, is a business group headquartered in Derrylin, County Fermanagh, Northern Ireland. The group has ventured into cement and concrete products, container glass, general insurance, radiators, plastics, hotels, and real estate. It was formed by Seán Quinn in 1973, developing from a small quarrying operation in Derrylin into a large organization, employing over 8,000 people in various locations throughout Europe.
From 2004 the group saw great expansion throughout Europe, with radiator and plastic manufacturing plants in the United Kingdom, Germany, Belgium, France, Spain and Slovakia. The group property portfolio also includes hotel and business centres in Poland, Bulgaria, Ukraine, Turkey, and Russia. Its first venture into the cement industry was in 1989. The commissioning of its first container glass plant was in 1998. It acquired the health insurer Bupa Ireland in 2007.
On 30 March 2010, following an application by the Central Bank of Ireland, the High Court appointed joint provisional administrators to Quinn Insurance Limited.
In April 2011, a share receiver was appointed to Anglo Irish Bank (to which the Quinn Group owed over €2.8 billion), who took control of the Quinn family's equity interest in the Quinn Group. Seán Quinn and his family no longer have any role in the management, operations or ownership of the group. Seán Quinn was declared bankrupt in the Republic of Ireland on 16 January 2012.
In November 2013, the group was renamed from QUINN to Aventas.
As a private company registered in Ireland, it files annual statements with the Companies Registration Office. The last accounts were filed in October 2009. The company reported a net profit of €68.9 million for the year to December 2008, based on gross sales of €2,264.4 million. Although it had reported an operating profit in its two main divisions, insurance and non-insurance (e.g. Cement, Property) for each of the last 3 years, the company was impacted by significant provisions in 2006 and 2007.
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