Glennon Brothers, a third-generation family timber processing firm, has entered into an agreement with SHV Energy to buy Balcas.
Balcas operates a sawmill in Enniskillen, County Fermanagh, Northern Ireland, producing quality sawn timber products for the fencing, landscaping, agricultural, construction, and pallet and packaging sectors.
The company also operates two renewable energy plants at Enniskillen and Invergordon, Scotland, which incorporate combined heat and power and wood pellet production. Balcas Energy’s Invergordon facility manufactures up to 100,000 tonnes of wood pellets and the Eniskillen site can produce 70,000 tonnes.
The agreement is subject to approval from the UK Competition and Markets Authority and Competition and Consumer Protection Commission in Ireland.
Mike Glennon of Glennon Brothers, said: “We look forward to welcoming the Balcas team onboard as part of Glennon Brothers and to working with them to grow and develop the business in the years ahead.”
“This is another milestone in Glennon Brothers’s history, which dates back to 1913, and we are thrilled to have Balcas join us on the journey moving forward,” added Pat Glennon.
Brian Murphy, CEO of Balcas, commented: “We are excited to be joining Glennon Brothers, a business with a deep-rooted history in the timber processing sector and values aligned to our own.”