Irish operations and maintenance outfit Optinergy has acquired rival LotusWorks company Lotus Energy Systems.
The pair said the merger will create the largest independent end-to-end service provider to developers in the Irish wind market. The deal with first reported by the subscriber-only reNEWS last week.
Galetech subsidiary Optinergy said the acquisition will deliver an additional €5m in revenue over the next five years and is part of a €650m investment programme.
All Lotus O&M contracts and assets will be transferred as part of the deal as well as all staff to form a 65-strong team.
Optinergy managing director Aiden Watters said the newly bolstered O&M company will seek to establish itself as “a force” in the Irish industry.
“Through this acquisition, Optinergy will be able to further enhance our offering to our existing and expanding customer base, providing a best-in-class service to wind farm owners in Ireland,” he said.
The Cavan-based company provides a number of other services such as turbine sourcing and installation support. It works with a number of developers including Brookfield and Bord na Mona.
LotusWorks chief operations officer Tom Cafferkey added: “The re-ignition of growth in the wind turbine independent O&M services sector that this acquisition brings also unlocks potential for all the talented service staff in the years to come.”
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