Limerick’s H&MV Engineering taps fresh funding, shares hiring plans

Limerick-based H&MV Engineering has secured a substantial €750m in extended investments led by Exponent, a European private equity firm, bringing the company's value to €1.4bn. The funding will support its growth objectives, with a particular emphasis on expanding operations in the United States. The investment round also saw participation from new investors such as Apollo S3, Pantheon, and SQ Capital.

Power infrastructure services are crucial for the growth of emerging technologies like AI, data centres, and battery storage systems. H&MV Engineering is positioned as a key player in several fast-growing infrastructure markets, where demand for specialized engineering expertise and reliable power infrastructure continues to surge.

With more than 24GW of projects in design and construction, and a global presence in 20 offices across Ireland, the UK, Europe, the US, and Asia, H&MV Engineering is well-placed to leverage the new funding. The company's CEO, PJ Flanagan, expressed confidence in the transaction, stating that it will enable the business to scale at the pace of the markets it serves and fulfill its five-year growth ambition.

The funding will also facilitate the recruitment of additional talent, with a focus on strengthening the team, engineering capabilities, and the company's culture. H&MV Engineering aims to triple its revenues to €3bn over the next five years and increase its headcount by another thousand employees, with recruitment efforts concentrated in the US and continuing in Ireland, the UK, and Europe.