Irish industrial energy efficiency company EM3 has been acquired by SHV, a private Dutch company whose brands include Calor and Primagaz.
Its subsidiary, SHV Energy has taken a majority stake in the Charleville, Co Cork-based business although no financial details of the transaction have been disclosed.
EM3 co-founders John Hensey and Donall O'Brien will continue to run the company they started in 2006 and remain shareholders.
The company, which employs 45 people, is one of the Republic's largest energy consultancy practices, managing the energy performance of businesses with an energy spend of over €400 million. Customers include Abbot, Alkermes, Allergan, Boston Scientific, Danone, Dell EMC, Gilead, Glanbia, Kerry, Mondelez, Nestle, Pfizer and Roche.
“This transaction supports EM3’s ambition to grow its customer base globally, with an unwavering focus on our core expertise: providing innovative energy efficiency solutions to industrial customers,” EM3’s co-founders said in a statement.
SHV Energy is a leading distributor of off-grid energy such as LPG, LNG and biofuels. The company, which claims more than 30 million business and residential customers globally, is part of SHV Holdings, one of the largest privately owned companies in the world.
Founded in 1896, SHV employs some 55,000 people across 58 countries, It has interests in transport, retail, oil, food and financial services. Headquartered in Utrecht, the group reported revenues of €19.2 billion last year.