Waterford's Suir Engineering acquires Scottish firm as it eyes UK expansion
Suir is forecasting €180m in revenues from data centres.
Waterford's Suir Engineering has acquired Scottish firm Taylor & Fraser as it plans to significantly expand operations in the UK to take advantage of the country's 'Great Grid Update' plan to boost infrastructure for onshore and offshore energy projects.
Taylor & Fraser is a mechanical and electrical engineering business operating in Scotland for more than 100 years, headquartered in Paisley with 180 employees. Financial details of the acquisition have not been disclosed.
Suir, which employs more than 1,600 people across Ireland, Germany, Denmark and Sweden recently opened offices in London and Manchester to service UK clients.
It reported a turnover of €429m in 2023 and is forecasting revenues of €550m for 2025, driven by the Taylor & Fraser acquisition, a strong project pipeline and a strategic talent acquisition programme.
Suir said €180m of revenue is expected to come from data centre projects, one of the key areas of growth for the business.
Reporting 41% year-over-year growth, Suir Engineering is a top-five mechanical and engineering firm by revenue in Ireland.
It operates in four core sectors: life sciences, energy, power and renewables, food and beverage, and data centres. Suir was acquired in 2022 by private equity group, Duke Street, from Dalkia and EDF Energy.
"The acquisition of Taylor & Fraser is part of our ambitious growth strategy," Suir Engineering chief executive John Kelly, said.
"The team brings with it a wealth of mechanical and electrical engineering expertise, and an outstanding legacy built over three generations of this highly regarded family business."
Taylor & Fraser will become a Suir Engineering company but will continue to operate under its existing name. There will be no impact on the 180 employees.
"By the end of 2025, we anticipate that Suir Engineering will already be among the top 10 mechanical and electrical contractors in the UK by revenue," Mr Kelly said.
"The UK presents huge opportunities in two of our four specialist sectors, data centres and energy, power and renewables, and it is one of the biggest data centre territories in Europe."
"The UK's 'Great Grid Update' represents a major shift in infrastructure development, with significant buildouts planned for on and offshore projects.
"This presents a significant opportunity for companies like ours, which is why aligning Suir Engineering with a company of Taylor & Fraser’s calibre is crucial to our business, alongside establishing a physical presence to support our market penetration."
