NEWTOWNABBEY-based mechanical and engineering services company Harvey Group has acquired renewable energy specialists Solmatix Renewables in a move the companies say will transform the renewable energy sector in Northern Ireland and act as a springboard for further expansion into the multi-million pound UK and Ireland renewable energy markets.
And the acquisition, completed for an undisclosed sum, brings the number of people employed directly by the Harvey Group in Northern Ireland and Britain to 110.
With a turnover of £30 million and more than 80 staff, Harvey Group has over 30 years’ experience in the design, installation and maintenance of building services within most kinds of building type throughout Britain and Ireland, including pharmaceutical/cleanrooms, laboratories, education, government and healthcare.
Richard and Norah-Anne Bell founded Solmatix Renewables in 2008, and since then the company has grown to achieve a turnover of £6 million, with 30 staff operating from its Nutts Corner premises.
As a result of the deal, Solmatix will continue to operate as an autonomous and independent company within Harvey Group.
Brian Harvey, managing director of Harvey Group, said there was a perfect fit between the two organisations.
“We've been planning to grow our renewables involvement for some time, either organically or through the acquisition of an established player. Having worked with Solmatix Renewables on a number of contracts, we’d always been impressed with their engineering rigour and professionalism.
"There seemed a natural synergy between our two companies in terms of what we do and how we do it.
"Having Solmatix as part of Harvey Group gives us a level of expertise that would have taken us years to acquire otherwise.
“Harvey Group and Solmatix share similar values - such as our commitment to professionalism, our desire to deliver our services to the very highest standards, and the importance we place on treating our customers, our suppliers and our staff with courtesy and consideration.”
Richard Bell, the founder and managing director of Solmatix Renewables described the acquisition as great news for the company, its customers, suppliers and staff.
“In many respects, it’s a case of ‘business as usual’. However, in real terms, being part of this larger organisation will give us access to enhanced technical skills, financial resources and purchasing power.
"Ultimately I believe this will lead to greater growth and investment within our operations, as well as more jobs and job security. It’s a win-win relationship that’s good for our whole organisation, as well as the economy of Northern Ireland."
