Major US investment for Irish engineering company Leo Lynch
The deal gives US investor Cathexis a majority stake, but Leo Lynch ‘will remain an Irish company’. The post Major US investment for Irish engineering company Leo Lynch appeared first on Silicon Republic.
US-based investment firm Cathexis Holdings has snapped up a majority stake in Irish engineering company Leo Lynch.
Leo Lynch is a specialist technical, mechanical and electrical engineering contractor that provides a suite of services including design, project management and installation to a wide range of blue chip clients.
The company has significant experience over more than six decades in a broad range of sectors including pharmaceutical, biopharma, medical devices, semiconductors and data centres, and has clients across Ireland, the UK, Europe and the Middle East.
Leo Lynch had a turnover of €44m in 2021. It employs more than 200 people across its headquarters in Dublin and sites in Kilkenny and Kildare.
The deal was announced today (18 May), with Cathexis taking a stake for an undisclosed sum.
Conor Lynch, principal of Leo Lynch, said that the investment represents “an excellent opportunity” for both clients and employees of the contracting company.
Clients will benefit from the potential addition of new services and the ability of Leo Lynch to “leverage the financial strength and strategic capabilities” of an international investment house.
Meanwhile, employees will benefit from Cathexis’s “commitment to scaling the Leo Lynch business” and the opportunities this deal will create for the business in Ireland and overseas.
“Most importantly, this deal will guarantee the continued success and growth of Leo Lynch into the future,” added Lynch.
Cathexis said it has identified Europe, and specifically Ireland, as an investment target because of how the construction market has played a crucial role in the economic success of the region.
The investment company said in a statement that Leo Lynch “fits seamlessly with the tradition of Cathexis” and that using its financial resources, experience in scaling companies and network in Europe, Leo Lynch can “expand the scope of its offerings”.
“We always keep in mind that Leo Lynch is an Irish company and will remain an Irish company through which Cathexis will target future growth in Ireland.”
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The post Major US investment for Irish engineering company Leo Lynch appeared first on Silicon Republic.