Co Clare engineering company Mincon has announced a deal to buy Finnish company Lehti Group for €8m, which it said will enhance its manufacturing capability in the geotechnical and construction market.
The deal for Lehti follows on from the acquisition of PPV Oy in 2017, which became a key part of Mincon's engineering hub in Mincon Nordic.
The company said the Lehti business will be fully combined into Mincon Nordic operations.
Mincon said the growth Mincon Nordic has seen in the geotechnical market has resulted in Lehti becoming a key manufacturing partner to it, with Mincon accounting for about €9m of the projected €11m turnover reported by Lehti last year.
Mincon said its partnership with Lehti has enabled it to win and supply significant infrastructure projects in North America, Scandinavia, Asia and Russia.
"This acquisition means that Mincon Nordic enters 2020 with the momentum provided by the contracts which we successfully won in 2019 and with superb reference sites for Mincon geotechnical products manufactured by Lehti," commented Mincon's chief executive Joe Purcell.
"We believe this acquisition will leave Mincon well placed to further expand in the attractive geotechnical market worldwide," Mr Purcell added.
