Environmental management company BHSL has agreed a deal to buy Glan Agua, a clean water and wastewater solutions business.
Based in Loughrea in Co Galway, Glan Agua is one of the most biggest providers of water and wastewater treatment systems in Ireland and is growing its presence rapidly in the UK market.
BHSL said today's deal will more than double its revenues, with plans for sales in 2022 of over €100m.
It will also see it expand its operations into adjacent water services and waste management activities.
BHSL is a "waste to value" company that provides technological and engineering solutions to the growing global waste market by providing an alternative to waste disposal by converting waste to heat and electricity.
The combined businesses will have over 300 staff across the UK and Ireland, and plans to invest in the expansion of Glan Agua will involve hiring a further 50 staff in the coming months.
Glan Agua's customers include Irish Water, Thames Water, Affinity Water, Yorkshire Water and a number of other Local Authorities in both the UK and Ireland.
It also has expertise in the food and pharmaceutical sectors.
Denis Brosnan, executive chairman of BHSL, said that Glan Agua is an excellent fit for BHSL.
Mr Brosnan said the deal supports the company's strategy to expand as an environmental solutions business, focussed on extracting value from waste products, and supporting the circular economy.
"Glan Agua's blue-chip client base in the UK and Ireland provides a strong platform for further expansion in the municipal water and waste sector. Our well supported fund raise provides us with the financial resources to support this acquisition and to drive our growth strategy," he added.
The acquisition is subject to approval from the Competition and Consumer Protection Commission.
