Renewable energy company Galetech Group has agreed a deal to buy Northern Ireland based Precision Gear Company (PGC) from Macrete Ireland.
PGC specialises in the international collection, maintenance and refurbishment of gearboxes which can be the most expensive component in a turbine, as well as the most difficult and complex part to handle and fix.
Co Cavan-based Galetech said the deal has resulted in the creation of a new company, Optigear, which will serve clients in the European and UK wind, rail, marine, and mining sectors.
Optigear will also work in collaboration with another Galetech Group company, Optinergy, which is a service provider to the renewable industry.
Galetech said this combination of specialists will provide clients access to an inventory of multi brand gearbox and components, in addition to their repair and restoration service.
Optigear will also offer the management and climate-controlled storage of these parts and the capacity to deliver their turnkey or "tower ready" installation.
Galetech also said it now has plans to invest around €5m in a new Renewable Components Hub - the first of its kind in Ireland or the UK.
The new facility will allow for the real-time replacement of critical components of renewable energy infrastructure, combined with solutions for their analysis, optimisation, and testing.
Darren Sherry, CEO of Galetech Group, said today's deal re-enforces the company's commitment to providing the highest quality service to its clients and partners.
"In the short term Optigear will help customers to extend the lives of their critical components keeping wind turbines online for longer than would otherwise be possible," Mr Sherry said.
"In the medium term our investment in new test facility will bring the quality to a level only seen with original equipment manufacturers (OEMs) and not currently available on the island of Ireland - with the growth of turbine scale we see this research and test facility as a key element to reduce downtime for our customers," he added.
