Water infrastructure engineering group Glanua has secured funding from Rabobank as targets annual sales of €400m by 2028.

The level of funding offered by Rabobank has not been disclosed, but Glanua said it would enhance its capacity to scale its business and expand its presence in the UK's water and wastewater industry through forthcoming acquisitions.

Keith Hayward has been appointed as managing director of Glanua's industrial division to lead the company's anticipated growth in the sector over the next five years.

The Loughrea-headquartered firm currently employs over 500 people after adding 190 staff in the past 12 months.

The company, formerly known as BHSL, grew revenues from €97m to around €150m last year after Glan Agua, Glan Agua UK, Hydro International and MEIC Ltd were consolidated under the Glanua banner.

Its clients include water authorities such as Uisce Éireann, Northern Ireland Water and Thames Water, and companies in the food and pharmaceutical sectors like ABP, Glanbia, Kerry Group and Wuxi Biologics

Glanua, which specialises in sustainable engineering solutions for the design, construction and maintenance of critical water and wastewater infrastructure, also has a manufacturing facility in Navan and offices in Belfast, Cork, Reading and London.

“We are delighted to receive significant strategic funding for our company from Rabobank. Partnering with such a reputable bank is a huge endorsement and reflects the substantial potential for future growth that Glanua continues to demonstrate," said Karl Zimmer, CEO of Glanua.

“A core part of our partnership with Rabobank is based in our shared values around sustainability. This new funding will ensure Glanua is well-positioned to capitalise on the increased importance of environmental action and the emerging benefits of the circular economy.

"Glanua is passionate about solving today’s environmental challenges and delivering a decarbonised and sustainable world.” 

Glanua has committed to achieving net zero emissions by 2040, and has accelerated its efforts in areas such as nature-based solutions, renewable energy, biodiversity, integrating innovative and sustainable technologies.

Fiona Egan, managing director of Rabobank Ireland, said: "We are delighted to partner with Glanua and support their ambitious growth journey.

"Sustainability is at the core of everything we do at Rabobank, and we look forward to working with Glanua, a leader for sustainability in the water industry.” 

Photo: Karl Zimmer. (Pic: Andrew Downes, xposure)