Carrigtwohill-based distributor acquired by Cork equipment provider 

Induchem delivers process equipment solutions to its partners in pharma, power generation, chemicals, petrochemical, design and engineering.

Cork-based distributor of process instrumentation, Insteco has been acquired by specialist provider, Induchem Group for an undisclosed amount.

The firm provides instrumentation to customers across the life sciences, pharmaceutical, dairy, semiconductor, food & beverage, and general utilities. The Carrigtwohill-based firm was established in 1993, with a second office located in Slane, Co Meath.

The firm's list of partners includes several multinational manufacturing companies including Siemens, Pepperl+Fuchs and Anderson-Negele.

Induchem Group, who have acquired Insteco, is a specialist provider of fluid-handling equipment, established in 1982. The firm has offices located across Cork, Dublin, Cheshire and Glasgow, and in 2019, it was acquired by global industrial group, Axflow, led by Axel Johnson.

In 2021, Induchem Group reported a final year turnover of €14.4m, converting an after-tax proft of €1.7m. 

“Insteco is a natural fit within the Induchem Group. It allows us to continue to grow in terms of expanded product and service offering”, said David Carroll, Head of Strategy of the Induchem Group.

"Insteco has established itself as a leading distributor and it brings significant opportunity for growth in terms of market penetration and product diversification.”

Previous owners of Insteco, Alan Breen and Jude O’Keeffe said they were excited about the company's new chapter, with Mr Breen saying the acquisition provides "a super fit for all of the team at Insteco, in terms of values, mission and vision."

Speaking on the acquisition, private equity firm Renatus commented, "The creation of a favourable economic environment in Ireland’s life sciences and pharmaceutical industries over the past several decades, has sustained massive growth in the broader ecosystem of product suppliers and service providers surrounding these industries."

"Insteco supplies many types of instrumentation and should enjoy continued success under the Induchem umbrella, with the downstream of activity from the wider sector continuing to be a key feature of deals."