Family founded business MTM Engineering raises funding to pursue ambitious European growth strategy.
Meath-based turn-key cable installation and termination business MTM Engineering has secured €30m in investment from Waterland Private Equity.
The investment will assist the company in its ambitious European growth strategy.
“We have ambitious plans to continue our growth trajectory in Ireland, the UK and across Europe and it is fantastic to have found a partner who shares our vision for the future”
Founded in 1997, MTM Engineering is a Specialist Electrical turnkey cable installation and termination Company specializing in the pre-construction design, containment design and installation and cable installation of high voltage, medium voltage and low voltage cables and termination an testing of medium voltage and low voltage systems.
Making the connection
MTM utilise their inhouse processes and state of the art tailor made equipment to manage and deliver their projects across Europe to the highest safety and quality standards.
The company, which is headquartered in Grangegeeth, Slane, Co.Meath, currently employs over 400 people and has completed large scale industrial and renewable projects in Ireland, Belgium, The Netherlands, Germany, Denmark, Finland, Sweden, Switzerland, Spain, Austria and UK.
In 2021 it had total sales in excess of €40m, and this year the company is in the process of applying for planning permission to expand the capacity of its headquarters to facilitate the future growth of the company.
“We are delighted to partner with Waterland, who have great experience and a proven track record in supporting successful family businesses like ours,” said managing director Brendan Mee.
“We have ambitious plans to continue our growth trajectory in Ireland, the UK and across Europe and it is fantastic to have found a partner who shares our vision for the future. This development is testament to the incredible work of our people and the quality service we provide to our clients around Europe.”
Headed in Ireland by Laura Dillon, Waterland is an independent private equity group set up 23 years ago in Holland with over €9bn in assets under management. Waterland is a supportive and active shareholder with its portfolio companies, playing a key role in their strategic development, M&A, growth and performance. In Ireland Waterland has a particular focus on supporting and working with small to medium enterprises generating profits up to €75 million, with plans to accelerate their growth.
“MTM Engineering is an incredible success story and is based on the experience and expertise of its people, its innovative culture, quality service and growing reputation,” said Donal Mac Nioclais, Investment Director, Waterland Private Equity Ireland.
“We are very excited about the ambitious plans for the future growth of the business and look forward to working with Brendan, Martin and their team to pursue our shared goals.”
Main image at top (from left): Laura Dillon, Managing Director and head of the Irish Team at Waterland Private Equity Ireland, Donal Mac Nioclais, Investment Director, Waterland Private Equity Ireland, Managing Director Brendan Mee, MTM Engineering, and his father Martin Mee, Founder, MTM Engineering