Building materials group Kingspan is to acquire Co Meath-based data centre provider BMC Manufacturing in a deal worth up to \u20ac900m.<\/p>\n
BMC Manufacturing designs, manufactures and installs critical power systems for data centres and employs more than 350 people across Dublin and Meath.<\/p>\n
It is forecast to have revenues of \u20ac280m this year, with its earnings before interest, tax, depreciation and amortisation forecast to reach \u20ac90m.<\/p>\n
Kingspan said that is anticipated to double in 2027.<\/p>\n
It said its business would be “highly complementary” to its Advnsys subsidiary, which designs and builds data centre facilities.<\/p>\n
Kingspan is to pay an initial \u20ac850m for BMC Manufacturing, which will be funded with \u20ac600m in cash and the issuing of \u20ac250m worth of new shares.<\/p>\n
A further \u20ac50m will be paid if certain profit targets are met.<\/p>\n
“We are delighted to announce this acquisition as part of our stated strategy to evolve our data offering towards fully converged power, cooling and containment solutions,” said Kingspan CEO Gene Murtagh. “BMC Manufacturing’s advanced technology, combined with Advnsys\u2019 deep partnerships with multiple hyper-scalers, will mean that we are well-positioned to meet the accelerating global data centre demand.”<\/p>\n
“Joining the Kingspan family marks an exciting new chapter for BMC Manufacturing,” said the company’s founder and chairman Brendan Meehan. “We have built a strong business with an outstanding team, and this combination provides the ideal platform to accelerate the next phase of our global growth.”<\/p>\n","protected":false},"excerpt":{"rendered":"Building materials group Kingspan is to acquire Co Meath-based data centre provider BMC Manufacturing in a deal worth…\n","protected":false},"author":2,"featured_media":590872,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,61,60],"class_list":["post-590871","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/590871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=590871"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/590871\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/590872"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=590871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=590871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=590871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}