When in 1799, William Penrose decided to sell, Gatchell seized the opportunity along with other local families, Ramsey and Barcroft, to purchase the company and become the new proprietors.

“Ramsey, Gatchell and Barcroft respectively inform their friends and the public that they have purchased the establishment of the Waterford Flint Glass Manufactory from George and William Penrose and have opened a shop on the quay in said concern where they intend to be supplied with an extensive assortment of plain and ornamental glassware and hope that by their attention, moderate prices and the quality of their glass, to merit the approbation of their customers.”

[an announcement in the December 1799 edition of The Waterford Chronicle by the new proprietors]