Dutch company SHV Energy has acquired a major stake in Cork industrial energy efficiency company EM3.
It is understood that SHV Energy, a global distributor of off-grid energy, has taken a majority stake in the Charleville-based business, however no financial details of the transaction have been disclosed.
John Hensey and Donall O’Brien, who founded EM3 in 2006, will continue to run the company and will also remain shareholders.
EM3 will continue to operate out of Charleville where it employs 45 full-time energy experts.
Mr Hensey and Mr O’Brien said they are “delighted” to be part of SHV Energy.
“This transaction supports EM3’s ambition to grow its customer base globally, with an unwavering focus on our core expertise: providing innovative energy efficiency solutions to industrial customers.”
Bram Gräber, CEO SHV Energy said the Dutch company looks forward to welcoming their new colleagues and customers into the SHV Energy family.
“This is an important step into the energy efficiency realm, through which we continue to address changing energy needs and growing demands of customers,” he said.
SHV Energy has 17,000 employees across four continents.