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Haystack Dryers was founded in 2000, selling innovative people dryers to swimming pools and leisure centres within the UK.
Designs and manufactures purpose built people dryers for the leisure industry.
NVM invested £3.5m development capital.
To take advantage of the rapid growth of theme parks in the Far East and also to support expansion into new sectors.
Paul Thomas became Managing Director of the business in 2006 and used his 15 years’ of experience to transform the business into the world’s leading provider of award winning people dryer products into the theme park sector.
Haystack Dryers generates the majority of its income through a ‘revenue share scheme’ whereby Haystack retains the ownership of the dryer and receives a proportion of the income generated once it is installed at a customer venue. The business model has achieved significant growth in recent years, with a large percentage of the revenue being long-term in nature and very predictable.
Haystack Dryers’ core product is the Cyclone Dryer, designed to dry up to five people at one time. This is currently supplied to high profile customers worldwide such as SeaWorld Group, Universal Studios and Legoland. The company now operates dryers across 16 countries.