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The deal brings MTM’s headcount to 650 and follows its investment deal with private equity group Waterland last year, which was reportedly worth €30m.
Data centre cable experts MTM Engineering has acquired CET Connect to boost its structured and fibre optic cabling services.
The deal amount was not disclosed, but MTM said the acquisition was supported by ongoing investment from its private equity investment group Waterland. The deal has grown MTM’s team size to more than 650 directly employed and dedicated staff.
Founded in 1997, the Meath-based company provides cable system installation and has worked on data centre projects across Europe.
The company secured investment from Waterland last July as part of a European growth strategy. This investment deal was understood to be worth €30m, the Independent reported.
Speaking about the acquisition, MTM Engineering managing director Brendan Mee said CET Connect is a “great business supported by a team of excellent people”.
“This acquisition represents the continued realisation of our strategy to grow our business,” Mee said. “It will add a significant service offering, cementing our position as a leader in cabling services and one of Europe’s largest specialist cabling companies.
“We are very excited about the future prospects for the business and look forward to working with the team to build on their successes to date.”
Founded in 1999, CET Connect primarily focuses on structured cabling, IT network infrastructure and fibre optic services. The company employs more than 100 people, in offices in Ireland, France, Germany, Sweden and the UK.
The company, with offices in Dublin and Clonmel, has partnered with several infrastructure players to provide cabling services, including Excel, Nexans and Brand-Rex, which focuses on cabling systems for data centres.
MTM believes the two companies have an alignment in terms of their visions and values. This is also expected to be the first of several moves as part of MTM’s growth plans for Ireland, The Irish Times reports.
CET Connect managing director Seán Maher said MTM is a “great partner” as it is committed to “long-term growth and development of the company”.
“With a reputation for high-standards, innovation and trust-based relationships with clients, their values and approach are highly complementary to our business and we look forward to working with Brendan and the team to continue delivering quality service standards to our clients,” Maher said.
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