Meath-based data centre cable specialist MTM Engineering has agreed takeover terms with Waterland Private Equity Ireland.
The company specialises in turnkey cable installation and termination services and has completed large-scale industrial and renewable projects in Ireland, Belgium, the Netherlands, Germany, Denmark, Finland, Sweden, Switzerland, Spain, Austria and the UK.
Last year sales at the MTM exceeded €40m, and the company said it is un the process of applying for planning permission to expand its Slane headquarters to facilitate further growth. The company currently employs over 400 people.
"We are delighted to partner with Waterland, who have great experience and a proven track record in supporting successful family businesses like ours," said Brendan Mee, managing director of MTM Engineering.
"We have ambitious plans to continue our growth trajectory in Ireland, the UK and across Europe and it is fantastic to have found a partner who shares our vision for the future. This development is testament to the incredible work of our people and the quality service we provide to our clients around Europe.”
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Donal Mac Nioclais, investment director at Waterland Private Equity Ireland, said: “MTM Engineering is an incredible success story and is based on the experience and expertise of its people, its innovative culture, quality service and growing reputation.
"We are very excited about the ambitious plans for the future growth of the business and look forward to working with Brendan, Martin and their team to pursue our shared goals.”
Headed in Ireland by Laura Dillon, Waterland is a Dutch-founded private equity group with over €9bn in assets under management that takes active roles with its portfolio companies, playing a central role in their strategic development, M&A, growth and performance.
In Ireland Waterland has a particular focus on supporting and working with small to medium enterprises generating profits up to €75m, with plans to accelerate their growth.
The proposed deal, which is subject to CCPC approval, will see Waterland assume sole control of the Co. Meath enterprise.
Photo: (l-r) Laura Dillon, Donal Mac Nioclais, Brendan Mee, and his father Martin Mee, founder of MTM Engineering.
