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Acquisition of Jones Engineering by US investor Cathexis Holdings

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

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

While the financial details of the transaction were not disclosed, Jones Engineering reported sales of over €900 million for the year ended December 2021. The company also employs over 4,600 people worldwide.

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

Leo Lynch is a specialist engineering, mechanical and electrical engineering group also headquartered in Dublin. It employs more than 200 people and achieved sales of 44 million euros last year.

Cathexis reported that it identified Europe as a key investment destination due to the construction industry’s role in the region’s economic success.

Both transactions are subject to the approval of the responsible supervisory authorities.

In a statement, the investor said it is focused on future opportunities in the market: “Backed by our extensive financial resources and experience scaling businesses, we believe further investment in both Jones Engineering and Leo Lynch will drive growth in both.” domestically as well as internationally.”

Cathexis added: “We recognize the strong Irish heritage of both companies and Cathexis will respect this as it aims for ambitious growth in the future.”

Commenting on the acquisition, Jones Engineering chief executive Jim Curley said the company’s customers should benefit from the “financial strength and strategic capabilities of an international investor.”

“We have selected Cathexis as the new owner for the group as we share our vision to grow our operations to capitalize on tremendous opportunities in Ireland and globally for the services we provide,” added majority shareholder and Chairman Eric Kinsella.

https://www.independent.ie/business/irish/jones-engineering-acquired-by-us-investor-cathexis-holdings-41717002.html Acquisition of Jones Engineering by US investor Cathexis Holdings

Fry Electronics Team

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