After sixteen years working in global multinationals in US, UK and Ireland, Peter Cosgrove made a decision in 2006 to exit the large company corporate world and return to Ireland.
His ambition was to look to invest in and run an indigenous manufacturing and exporting business where there would be potential to grow world market share.
This he did for the next 18-24 months at his own expense and incurring significant search and transactions costs along the way financed by savings and consulting work.
In 2008 Peter led the acquisition of a precision engineering business ATA Group headquartered in Cavan.
Today it is the world’s largest producer of tungsten carbide burs with offices in US, UK and Ireland.
Peter’s background includes sixteen years at Jefferson Smurfit Group, the last four years as CEO of Smurfit Packaging Corp on the US West CoaSt. Peter was also divisional Managing Director of De La Rue Security Products from 2002 through 2005, based in Basingstoke, Hampshire. Peter owns – with three colleagues – the master franchise in Ireland for Snap Printing (KM Franchising) and sits on the KM board.
Peter is married with five children and is a BComm/ MBS graduate of UCD (1985 and 1986). ATA Group is a precision engineering business based in Cavan, Glasgow, Leicester and Cuyahoga Falls (Cleveland) OH.
ATA Group manufactures tungsten carbide burs and pneumatic air tools for industrial grinding applications.
ATA products are used in a wide variety of industrial sectors including aerospace, oil and gas, marine, automotive and industrial turbine.
The company was founded in the mid 1970s and was part of a Scottish family-owned oil services business that moved certain elements of its production to Ireland’s border region in order to attract maximum incentives.
The company and its UK sister distribution company were acquired in 2008 by Irish investors led by Peter Cosgrove, and supported by FL Partners private equity clients, with the objective to build on the excellent capability and technical skills of the Cavan team and with an ambition to become a leader in its industry.
Immediate investments in capital, with support by Enterprise Ireland, and in management personnel, positioned the company to grow substantially.
The company has more than doubled its revenues, organically and by acquisition, through December 2012 – despite the 2009 downturn.
Today the ATA Group has in excess of 1,200 distribution customers, operating in 65 countries.
The company has market leading positions in the US, Europe, Japan and Singapore with a growing presence in South America and China.
The company’s capital investments place it at the highest technical level in its industry.
210 people are employed worldwide with in excess of 100 employed in Ireland.
In 2004 ATA produced in the region of 600,000 bur units and today it produces in excess of 6 million units.