Suir Engineering sees growth in turnover and eyes staff expansion

Waterford-based Suir Engineering saw its turnover surge in 2023, rising 41 per cent year on the previous year.

The company, which provides mechanical, electrical, instrumentation and high-voltage engineering services, is also planning a further expansion in its staff from more than 1,500 to over 1,700 in 2024 as it targets new growth.

Earnings before interest, tax, depreciations and amortisation was 5 per cent.

The company, which has an established business in pharmaceutical, life sciences and data centres, has also grown its portfolio in energy power and renewables (EP&R).

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“Our EP&R business has operated for over 20 years and has quadrupled in size in the last six to a division now generating €120 million per year, carrying out ground-breaking and first-of-a-kind electrical power projects across the UK and Ireland,” said chief executive John Kelly.

“We are marking our 40th anniversary in 2024 and already it’s shaping up to be our strongest ever given the €500 million order intake last year. This is a testament to our highly-skilled workforce and a demonstration of the confidence our clients have in our work and our people.

“Having closed the 2023 management accounts, we’re really pleased to be able to lay such strong foundations for 2024 and are optimistic that we will achieve another record-breaking performance, with new opportunities on the horizon.”

Founded in Kilkenny in 1984, the company was acquired in 2022 by private equity group Duke Street from Dalkia and EDF Energy. It has offices in Dublin, Stockholm, Copenhagen, London and Frankfurt.

Its most recent set of accounts for its Irish operations showed it employed more than 1,000 people in the State at the end of 2022.

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