Sandyford-based telecommunications group Threefold Project Management has emerged as one of the bidders for Eircom's 300 phone masts, which have been put up for sale by Babcock & Brown. Ciarán Hancockreports.
The company is headed by Tony Killarney and was involved in the construction of 3's mobile phone network.
It employs more than 100 people providing managed services in network infrastructure and its customers include Eircom, NTL, 02, Meteor and Clearwire.
Threefold was founded in 2002 by Mr Killarney, Tom Scanlon and Niall Savage. All three are engineering graduates.
It is understood that Threefold is being advised by Goodbody Stockbrokers.
The deadline for the next stage of bidding, meanwhile, has been extended by two days to August 30th. The sale process is being handled by Babcock & Brown's merchant banking arm in London, and the Australian investment group, which owns Eircom, is believed to be seeking more than €150 million for the masts.
Killarney also heads Maynooth-based Killarney Communications, a family-owned business involved in the design and building of telecoms and power transmission infrastructure.
Latest accounts for Killarney Communications show it earned after-tax profits of €2.4 million on turnover of €34.6 million in 2005. The company has a 55 per cent stake in Threefold.
Others bidding for the masts include Irish telecoms entrepreneur Sean Melly, the founder of Etel. Mr Melly is being advised by NCB Corporate Finance and has lodged his offer through Powerscourt Investments, a private equity group he controls.
Up to six bidders are thought to still be in the running for the business. These are thought to include Arqiva, a UK-based mobile communications group owned by a consortium led by Australian investment company Macquarie. Babcock & Brown is seeking a sale and leaseback arrangement for its 300 phone masts around the Republic.
Eircom and Meteor are the biggest users of the masts, which earn revenues of more than €10 million a year.
Other customers include mobile operators Vodafone, O2 and 3, and wireless telecoms companies.
Presentations by management were made to the shortlisted bidders recently. No Eircom staff will transfer with the company.
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