Glennon Brothers, a timber processing company based in Longford, Ireland, has completed its acquisition of Balcas from parent company SHV Energy Holding.
The transaction, which includes two CHP plants, was subject to approval from the Competition and Markets Authority in the UK and the Competition and Consumer Protection Commission in Ireland.
Balcas, based in Enniskillen, Northern Ireland, consists of two divisions: Balcas Timber and Balcas Energy. Combined, the business has a turnover of £108 million (€126 million) and employs 370 people.
Balcas Timber incorporates the sawmilling operation in Enniskillen, which produces sawn timber products for the fencing and landscaping, agricultural, and construction and pallet & packaging sectors. Additionally, Balcas Energy operates two renewable energy facilities in Enniskillen and Invergordon, Scotland, which incorporate CHP and the manufacture of Balcas Energy Wood Pellets.
“We are delighted to have completed the acquisition of the Balcas business, which will enhance our overall product and service offering, as well as diversifying our route to market via Balcas’ energy division,” said Mike Glennon.
“This is a significant milestone in Glennon Brothers’ history, which dates back to 1913, and provides our customers with a broader range as well as increased overall production capacity for the future. This acquisition allows us to continue fulfilling our commitment to our customers of offering a one-stop-shop solution for sawn softwood across the UK and Ireland.”
Glennon Brothers recently invested in a CHP plant within its existing facility in Troon in 2016. The addition of two further CHP plants as part of the acquisition offers further synergies, as well as reinforcing the company’s green credentials.
Pat Glennon commented: “The opportunity to add value to our established supply chain and core business is extremely exciting. We are thrilled to welcome the Balcas team into the Glennon Brothers Group and are excited to start working with them collaboratively, sharing ideas and developing best practice across the wider business.
“By adding Balcas to our existing business, it further enhances our capability to operate fully from forest to front door.”
Brian Murphy, CEO of Balcas, said the team is “delighted” to be joining the Glennon Brothers family of companies.