Search
06-2022

Jones Engineering acquired by US investor Cathexis Holdings

Jones Engineering acquired by US investor Cathexis Holdings

Jones Engineering acquired by US investor Cathexis Holdings

Jones Engineering has been acquired by Cathexis Holdings, a deal that marks the US holding company’s second investment in the Irish market in less than a month.

one Engineering, founded in 1890, is headquartered in Dublin. The company provides mechanical, electrical and fire protection services to customers in 19 countries.

Although financial details of the deal were not disclosed, Jones Engineering reported sales of more than €900m for the fiscal year ended December 2021. It employs more than 4,600 people globally.

The acquisition of Jones Engineering follows news last month that Texas-based Cathexis Holdings would take a majority stake in Irish engineering company Leo Lynch. The value of the investment was not shared.

Leo Lynch is a specialist technical, mechanical and electrical engineering group, also headquartered in Dublin. It employs over 200 people and had a turnover of €44m last year.

Cathexis reported that it had identified Europe as a major investment target because of the construction industry’s role in the region’s economic success.

Both the deals are conditional on approval from the relevant regulatory authorities.

In a statement, the investor said it remains focused on the future opportunity in the market: “Backed by our deep financial resources and experience at scaling companies, we believe that further investments in Jones Engineering and Leo Lynch will benefit both domestically and globally.” Development will be allowed. Internationally.”

Cathexis said: “We recognize the strong Irish heritage of both businesses and Cathexis will honor this as it targets ambitious growth in the future.”

Commenting on the acquisition, Jones Engineering Chief Executive Jim Curley said the company’s clients are poised to benefit from “the financial strength and strategic capabilities of an international investor.”

“We have selected Cathexis as the new owner for the group, given our shared vision of growing our operations in Ireland and globally to take advantage of the vast opportunities for the services we provide, said Eric Kinsella, majority shareholder and chairman.

LATEST NEWS

Related Stories