PM Group plans to enhance its automation and smart manufacturing services through the Milestone acquisition.
IT and automation company Milestone Solutions is being acquired by PM Group for an undisclosed amount.
The deal will see the Cork-based company operate as Milestone, a PM Group company. The acquisition is subject to clearance from the Competition and Consumer Protection Commission.
Founded in 2008 by chartered engineer Will Wilmot, Milestone helps large multinational manufacturing companies to plan, deliver and commission new facilities or upgrade sites. It works with companies in the life sciences, pharma, and food and beverage industries.
Milestone and PM Group have multiple common clients including MSD, Lilly, Pfizer and Alexion. The two companies have partnered together in the past to deliver projects where complex automation or smart manufacturing was required.
Last year, Milestone expanded its operations further into Europe and revealed plans to create 80 jobs to support this growth. The company now has a team of 160, with projects in Ireland, the US, Belgium and Germany.
Milestone reported revenue of €18.5m last year and forecasts making €25m this year. Following the acquisition, it is understood that Wilmot and operations director Kieran Nolan will remain with the business to lead PM Group’s automation offering.
PM Group plans to enhance its automation and smart manufacturing services through this acquisition. PM Group CEO Dave Murphy said the deal will “significantly enhance our digital project delivery capabilities”.
“Automation and integration services are key components of our growth strategy and acquiring a top-class company in Milestone will accelerate our ability to become an industry leader in this area,” Murphy said. “This is a growth area which is highly complementary to our core expertise and will provide additional value for our clients.”
PM Group specialises in managing the design, construction and commissioning of high-tech facilities. It has clients in the pharma, food, data centre, medtech, advanced manufacturing and energy sectors.
The contruction project management company has been pushing for global expansion in recent years. Last year, PM Group announced 500 new jobs after experiencing growth across all of its markets. The company employs more than 3,500 people worldwide.
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