Some 100 new jobs are to be created locally over the next three years following the coming together of two well-known engineering companies.
CJK is acquiring McGrattan and Kenny to form a mechanical and electrical engineering services group in a move that will see both brands being retained.
The group said the companies will continue to operate as separate firms within the shared group structure.
The deal will lead to 100 new roles being created to bring group headcount to 360 people by 2024. The jobs include roles for mechanical and electrical trade personnel, engineering, operations, commercial and administration staff.
Although no financial details surrounding the acquisition have been publicly disclosed, the deal takes estimated group turnover to €45 million. CJK is on target to record revenues of €40 million this year, as against €29.1 million in 2020 with projected profits of €2.4 million. McGrattan and Kenny posted €5.2 million in sales for the 12 months to the end of April.
With the addition of McGrattan and Kenny’s staff, employee numbers at CJK have effectively doubled over the past four years.
The two companies have worked together previously on a number of projects and share mutual clients, including the DAA and Office of Public Works.
Founded in 1998 and currently employing 220 employees, CJK's other clients include Accenture, APC, Amgen, DCU, Egis (Dublin Port Tunnel), ESB, Facebook, the Health Service Executive, Irish Distillers and RTÉ. Established in 1968, McGrattan and Kenny has 40 staff.
"This is a significant development in the engineering services market which is gearing for further strong growth. The alignment of our two companies presents an opportunity to provide enhanced services and efficiencies for our clients, as well as great new career opportunities for our teams," said Vinny Bruen, managing director of CJK.