Energy company Pinergy acquired by Tokyo-based multinational

The change in ownership will not affect day-to-day operations at the company

The senior management team, including founder and chief executive Enda Gunnell (pictured) and executive chairman Peter Bastable, will continue to lead the business.

Irish energy company Pinergy has been acquired by Tokyo-based multinational corporation Sojitz Group for an undisclosed amount subject to competition authority approval.

As part of the deal, Sojitz has taken a majority stake in the business having acquired the holdings of long-term shareholders the Coates Family. Key senior executives will retain a shareholding in the business.