Zip Industries has recently sold a majority shareholding to Quadrant Private Equity

Local instant hot water manufacturer of long standing, Zip Industries, has recently sold a majority shareholding to Quadrant Private Equity, with the Crouch family maintaining the balance of shareholding.

For more than 50 years, Zip has been guided by Michael Crouch AO who took over a fledging kitchen and bathroom heater company, Zip Heaters and turned it into a significant manufacturer of instant hot water.

Zip has led its market sector globally and success has come through innovation and by being one step ahead. Zip products now command a global sales footprint in over 60 countries.

The company has been an Australian grown manufacturing success and all operations are still centred at Condell Park in Sydney’s south.

The move will allow octogenarian Michael Crouch to ease back; while son George, who is Zip’s global specification director will remain involved.