The management team of Thermodial has completed a 100% buyout of the company.
It said the aim is to increase turnover by 30% to €13 million, and grow employee numbers to over 100 people by 2026.
Permanent TSB is the primary funder of the MBO. The first phase of the MBO, for 55% of the company, was undertaken in 2016.
Established in 1986 and lead by Managing Director, Turlough Kinane, Thermodial is an operator in the installation and maintenance of commercial and building energy management systems in Ireland.
The buyout sees Mr Kinane, Mr Keegan and Mr Carrick acquire the remaining 45% shareholding from the founders, giving the trio 100% ownership of the company.
"Over the decades we have built a strong reputation in the commercial heating and ventilation market and have been successful in being accredited with four ISO standards," said Thermodial's Managing Director, Turlough Kinane.
Based in Dublin, the 37-year-old company serves the retail, public sector, education, hotel and leisure, data-centre and healthcare sectors.
Thermodial’s clients include Eir, Microsoft, JLL and Super Valu, as well as clients in the public sector, education and leisure sectors.
