Spanish engineering giant Ayesa acquires ByrneLooby

Irish engineering consultancy ByrneLooby has been acquired by Spanish firm Ayesa for an undisclosed sum.

Seville-headquartered Ayesa said the acquisition will add approximately €24 million in annual revenues.

Founded in 1998 and employing more than 225 people across 14 offices in Ireland, Britain and the Middle East, ByrneLooby provides engineering and design services across a number of specialist sectors including marine and coastal, buildings, transportation, energy, environment, water and waste management.

Among the projects it has worked on are the Aviva Stadium, the Shard, Bahrain International Airport and the Riyadh metro system.

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ByrneLooby's management team is to remain in place following completion of the acquisition. Managing director John Byrne said the company has "ambitious growth plans".

“This transaction brings two highly complementary businesses together and represents a significant expansion to our service offering in ByrneLooby,” he said.

Ayesa is one of the world’s largest engineering firms, and it also provides technology services such as artificial intelligence, data analytics and cybersecurity. It has annual turnover of €256 million and more than 5,400 employees in 17 countries.

Ayesa recently announced a major investment from A&M Capital Europe, which is to be used to double revenues to €500 million over the next five years.

"The robust scale of Ayesa internationally and the sophisticated resources and infrastructure that underpin our business across each market will enable ByrneLooby to grow at an accelerated pace," said chief executive José Luis Manzanares Abásolo.