Engineering services firm Mincon finding it difficult to land acquisition targets

Shannon-based engineering services firm Mincon has expressed frustration in its quest to expand through acquisition, saying transaction values being quoted are unrealistically high.

The company specialises in industrial drilling tools.

“We have been active in approaching potential acquisition targets, but we did not see value for the group in the terms that were being sought by vendors, compared with the cost of investing in our own engineering competencies to build a competitive offering,” the company said yesterday.