Latest news with #Cork-headquartered
Irish Examiner
03-07-2025
- Business
- Irish Examiner
Dublin engineering firm acquired by German group
German engineering firm Dussmann has announced it will acquire Dublin-based Lynskey Engineering for an undisclosed sum. Dussmann is a multi-service provider of solutions across various fields, including integrated facility management, food services, and technical plant and systems engineering. It is the largest division of the Dussmann Group, an international company that has 70,000 employees in 21 countries. The group generated annual sales of about €3.3bn last year. The acquisition is subject to approval by the Irish antitrust authorities and is expected to be completed over the coming months. Lynskey, which was established in 1964, is a specialist mechanical engineering services provider, which has operations across Ireland, the UK, and mainland Europe. It has a wide range of blue chip clients in the commercial, data centre, healthcare, retail and energy sectors. During its latest financial year, it had a reported turnover of about €60m. The existing employees of Lynskey will be unaffected by the transaction. The senior management team of Lynskey, including its managing director Sean McElligott, will remain in their existing roles after the acquisition goes through. Mr McElligott said this deal was an 'excellent opportunity for both our clients and employees'. 'Our clients will continue to enjoy the same level of superior service provided by our team, delivering complex technical mechanical projects within time and on budget, and post-acquisition will also benefit from the increased scale and service capability we can offer as part of the group,' he said. Dussmann Technical Solutions division was established in May 2019 and has already made a number of other acquisitions, including the STS Group, which is based in Waterford. The company said the acquisition of Lynskey adds to the existing portfolio 'in-house capabilities and brings for the first time the ability to self-perform specialist mechanical services'. Dussmann Group chief executive Wolf-Dieter Adlhoch said the goal with the acquisitions was to 'establish and expand our range of engineering services for clients with complex technical demands and mission critical systems in the industrial, energy and data centre sectors.' Read More Cork-headquartered Adapt IT acquired by Ekco
Irish Examiner
03-07-2025
- Business
- Irish Examiner
Cork-headquartered Adapt IT acquired by Ekco
Cork-headquartered Adapt IT has been acquired by managed service provider Ekco. The new deal, which marks Ekco's sixth acquisition in two years, brings its total acquisition investment to €57m in that period. Operating for more than 20 years, Adapt IT employs 37 people at its Cork headquarters and specialises in SME services. Its 300-strong customer base operates in industries such as manufacturing, retail, hospitality, legal, and finance. The acquisition of Adapt IT brings Ekco's global headcount to more than 1,000 employees and adds a seventh Irish location to its growing regional network. In addition to its three sites in Dublin, Ekco now operates in Cork, Waterford, and Laois, as well as across the UK, Netherlands, South Africa, and Malaysia. The deal is the latest in Ekco's wider acquisition strategy for growth and brings the total number of businesses acquired by Ekco in the last two years to six. Earlier this year, the company announced the purchase of Predatech, a UK-based cybersecurity consultancy. In 2024, it added UK legal IT specialist CTS to its portfolio of companies. The year before saw the additions of MSPs Radius and Bluecube, as well as cloud migration and cybersecurity specialist iSystems. Cian Prendergast, CEO at Ekco MSP, said: 'The acquisition of Adapt IT is the latest move in our aggressive expansion strategy which targets key acquisitions combined with sustained business growth. "This strategy reflects an investment in innovation that will make us in Ekco, and our acquired companies, stronger as a result. We're building a modern, security-first MSP that helps ambitious businesses to operate with confidence and resilience." John Levis, Managing Director at Adapt IT, said: 'We are delighted to join the Ekco group, an Irish-founded business which is on an impressive growth trajectory. This will enable us to continue to deliver top-tier services to businesses, backed up by the skills and resources of a larger group.
Irish Examiner
16-06-2025
- Business
- Irish Examiner
Cork adventure company Zipit opens fourth location in latest expansion
Cork-headquartered adventure business Zipit has announced the opening of its newest park, located in Wicklow, marking the growing company's latest expansion. With locations already in Farran Forrest Park in Cork, Tibradden Wood in Dublin and Lough Key Forest Park in Roscommon, Zipit Djouce Park in Wicklow will mark the company's fourth addition. The latest venture will be located on a former golf course fairway on the edge of the Wicklow park. The new course is currently being built by Funcha, one of Europe's leading adventure park developers. Speaking on the latest location, Zipit said it offered "wide-open skies and uninterrupted views", providing a different experience from Zipit's traditionally forested courses. Zipit was acquired by Cork-based Cool Runnings Events in 2021, leading to the merging of two family businesses. Headquartered in Little Island, Cool Runnings is known for both zip-lining and for its seasonal ice rink attractions in Cork and Dublin and has been operating since 2007. In May, Zipit sought to expand its operations further, submitting plans to the county council for a new adventure centre in East Cork. In its application, the growing company sought planning permission to install an adventure activity course on Fota Island. The proposed course will include a net adventure area, multi-activity area, tubing course, zip lines, a low ropes area, and ancillary activities. Permission is also being sought for a single-storey reception cabin and a single-storey staff welfare cabin, toilet facilities and all associated site and ancillary works on land at Fota Island, Carrigtwohill. The proposed site lies within the curtilage of Fota House, which is a Recorded Protected Structure. Cork County Council are due to decide on the case by July 1, 2025. Speaking on the Wicklow course, Cian O'Callaghan, Head of Sales and Marketing at Cool Running Events, said: 'We're incredibly excited to launch our newest course in Djouce. This area of Wicklow offers a stunning backdrop for outdoor adventure." "This course is Zipit's first that's accessible to kids as young as three, and we can't wait to see the excitement on the younger adventurers' faces as they take part in Ireland's newest adventure course'.
Irish Examiner
26-05-2025
- Business
- Irish Examiner
It costs €110,000 to become an airline pilot: A new report says the ISIF should be used to offer low-cost loans to candidates
A €40m pilot training loan fund should be created from the Irish Strategic Investment Fund (ISIF) to provide low-cost and fully repayable debt finance to train commercial pilots at Irish flight schools. That is one of the five recommendations from a new study, commissioned by former Ryanair CEO Declan Ryan, who heads aviation investment group Irelandia. In relation to trainee pilots, the report recommends quadrupling the flow of cockpit crews for European airlines and positioning Ireland as a centre of excellence for pilot training with a focus on smaller underutilised airports, including Waterford, Sligo, Derry and Weston It highlights the high cost of training to become a pilot, at approximately €110,000 over two years. "Accessing debt finance for that is extremely challenging and when debt is available it is only at exorbitant interest rates of up to 15%," the report notes. "This limits the supply of cadets as individuals, especially those in lower income cohorts, as they cannot access the required finance." Across Europe, there are over 70,000 qualified commercial pilots at present and estimates suggest a need for over 5,000 newly qualified pilots every year for the next ten years. The report, authored by aviation expert Eamonn Brennan and Goodbody Capital Markets director Joe Gill, said this creates an opportunity for flight training schools that have the capacity to produce pilots. "Our proposal is for ISIF to establish a Pilot Training Debt Fund (PTDF) that is managed via the banking system and offers interest rates backed by a Government guarantee. A similar programme exists in support of Irish SMEs via the Strategic Corporation of Ireland offering loans with interest rates of 4%-5%." To qualify for these loans, candidates would have to be approved by registered Flight Schools as suitable candidates, the report states, adding that if such a scheme was available, pilot training in Ireland could expand significantly, from an output of about 100 at present to approximately 400. "This increased activity can be focused on airports that are currently underutilised including Waterford, Sligo, Derry and Weston. These locations offer ideal and challenging weather conditions to train line-ready commercial pilots for airlines around the world." The Cork-headquartered Atlantic Flight Training Academy (AFTA), headed by Captain Mark Casey, welcomed the publication of the report. AFTA, which trains pilots in Cork and Waterford, said it has over 100 applications on file from individuals who simply cannot access the more than €100,000 required for a full commercial pilot's license. 'If this recommendation is implemented, AFTA will commit to expanding its operations at airports including Waterford," Mr Casey said. 'Ireland can quickly accelerate its annual output of professionally trained commercial pilots if funding can be secured at a reasonable interest rate for prospective students. At every Pilot Career's recruitment event we attend, AFTA staff are constantly reminded by parents and students about the lack of available finance for prospective Pilot Cadets in Ireland." "This issue is the major barrier to entry. Furthermore, this puts Irish Pilot Training Schools, like AFTA, at a competitive disadvantage, while our EU competitor Schools enjoy main street bank lending for trainees and state-backed lending for trainees," he said. Other recommendations in the Irelandia report 'A Pathfinder for Irish Aviation' include an all-island approach to aviation, introducing concise legislation to immediately remove the passenger cap at Dublin Airport, expand the maintenance, repair and overhaul sector with a focus on Shannon and Derry airports and strengthening the aircraft leasing industry by exp[adding existing treaties to ake in new markets including Brazil, Japan and Asutralia.
