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H&MV Engineering Expands Global Presence with Acquisition of Skanstec Group

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H&MV Engineering Expands Global Presence with Acquisition of Skanstec Group

H&MV Engineering Expands Global Presence with Acquisition of Skanstec Group
February 06
10:04 2024

H&MV Engineering, a leading specialist in high voltage electrical engineering and design, has announced its acquisition of Skanstec Group, a European engineering company specializing in critical infrastructure projects in the energy and telecommunications sectors. This strategic move marks a significant step forward for both companies, positioning them as a dominant force in the global market for specialist design, engineering, and construction services.

Under the terms of the acquisition, Skanstec’s shareholders and management team will continue to play integral roles within the business, with a substantial portion of their proceeds reinvested into the enlarged H&MV/Skanstec group. With combined revenues approaching €400 million and nearly 1,000 employees, the newly formed Group is poised to set new standards in mission-critical infrastructure services worldwide.

Skanstec brings a wealth of expertise to the table, specializing in the design, construction, and commissioning of critical infrastructure in power grids and communication networks across seven European countries. Their strong reputation for delivering high-quality work and providing end-to-end solutions has earned them the trust of blue-chip clients in both the private and utility sectors.

Founded in 1997, H&MV Engineering has established itself as a leader in high-voltage turnkey services, offering comprehensive solutions across design, installation, commissioning, and maintenance. With a focus on the energy market and a blue-chip client base spanning Data Centers, Renewables, and Utilities, H&MV’s strategic expansion is set to accelerate with the integration of Skanstec’s capabilities.

P.J. Flanagan, CEO of H&MV Engineering, expressed excitement about the acquisition, stating, “We are pleased to announce the acquisition of Skanstec, who have a strong reputation in the industry and have carved out a niche position in the European market.” He emphasized the alignment of cultures and values between the two companies and highlighted the addition of fiber and connectivity expertise to the Group’s portfolio.

Declan Wynne, CEO of Skanstec, echoed Flanagan’s sentiments, expressing excitement about joining forces with H&MV. “The combination of H&MV and Skanstec presents a strengthened market offering, enabling greater value in the group proposition and outreach,” said Wynne. He emphasized the shared ambitions and values between the two companies and the opportunities for further growth in existing and new international markets.

John Moore, Chair of H&MV and Operating Partner at Exponent, emphasized the complementary nature of the two businesses and the potential for offering unparalleled services across EMEA and beyond. The acquisition was facilitated by Clearwater International and Squire Patton Boggs for Skanstec, and KPMG and A&L Goodbody for H&MV.

The acquisition comes amidst Exponent’s continued commitment to investing in Ireland, with a track record of over €1 billion in investments in Irish businesses since 2012. With this strategic move, H&MV Engineering solidifies its position as a global leader in mission-critical infrastructure services, poised for accelerated growth and expansion into new markets.

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