Acquisition of Waterford biomethane firm Ormonde notified to competition watchdog

Competition and Consumer Protection Commission said it had been notified of the planned deal and was allowing third parties to raise any concerns before making a decision on the case

Ormonde operates two anaerobic digestion plants at Portlaw, Co Waterford, and Youghal, Co Cork.

The acquisition of Waterford biomethane firm Ormonde Organics by Heygaz Biomethane, a portfolio company of funds managed by InfraVia Capital Partners, has been notified to Ireland's competition watchdog.

Ormonde operates two anaerobic digestion plants at Portlaw, Co Waterford, and Youghal, Co Cork, with a total production capacity of 60GWh annually. It also has planning permission for a third facility, expected to begin operations at the end of 2025.

Headquartered in Madrid, HeyGaz operates five biomethane plants in four countries and has partnered with French private equity firm InfraVia Capital to further expand across Europe.

It has current production of about 100 GWh of biogas each year. It aims to establish a network of biomethane production plants across Europe via continued greenfield development, as well as the acquisition and conversion of operational biogas assets.

The Ormonde Organics management team and chief executive Martin Morrissey will remain with the firm. They will join the Heygaz executive team and will continue to have an equity participation in the business.

In an update, the Competition and Consumer Protection Commission (CCPC) said it had been notified of the planned deal and was allowing third parties to raise any concerns before making a decision on the case.