Balcas, one of the 海角视频 and Ireland’s biggest sawmills, has been bought by a Longford-headquarter rival timber merchant for an undisclosed sum.
The deal sees ownership of the Fermanagh company transfer from SHV Energy, the Dutch clean energy company which took a 75% majority share in the company in 2015, to Glennon Brothers, a third-generation timber processing business.
The deal in subject to regulatory approval from both the Competition and Markets Authority in the 海角视频 and Competition and Consumer Protection Commission in Ireland.
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As well as timber products, Balcas is one of the biggest producers of wood pellets in the 海角视频 and Ireland.
It operates a sawmill in Enniskillen producing sawn timber products, as well as a renewable energy plant producing power used at the plant to make wood pellets and to be sold back to the grid. It also operates renewable plant in Invergordon in Scotland.
Glennon Brothers has operated in Longford for more than 100 years and is now one of the major players in the timber business in the 海角视频 and Ireland.
It’s portfolio of businesses includes Scottish businesses Windymains Timber near Edinburgh which specialises in treated timber; a significant sawmill in Troon; timber frame company Alexanders Timber Design, also in Troon; and another timber frame business Dempsey Timber Engineering in Dublin.
Pat Glennon, joint managing director at Glennon Brothers said the deal is a milestone for the company while brother Mike Glennon said plans are in place for future growth.
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“We look forward to welcoming the Balcas team onboard as part of Glennon Brothers, and to working with them to grow and develop the business in the years ahead”.
Meanwhile, Brian Murphy, CEO of Balcas, welcomed the purchase.
“We are excited to be joining Glennon Brothers, a business with a deep rooted history in the timber processing sector and values aligned to our own.”