Irish sawmiller Glennon Brothers in agreement to acquire rival Balcas
21 May 2021Third-generation Ireland sawmiller Glennon Brothers has entered into an agreement with SHV Energy to purchase Balcas Ltd, subject to approval from the Competition and Markets Authority in the UK and Competition and Consumer Protection Commission in Ireland.
If approved, the deal would almost double the size of Glennon Brothers’ business – the company’s existing turnover is approximately €150m and Balcas accounts for about £100m.
Balcas operates a sawmill in Enniskillen, County Fermanagh, Northern Ireland, producing quality sawn timber products for the Fencing, Landscaping, Agricultural, Construction, and Pallet & Packaging sectors.
In addition, the business operates two renewable energy plants at Enniskillen and Invergordon, Scotland, which incorporate CHP (Combined Heat & Power) and wood pellet production.
“We look forward to welcoming the Balcas team onboard as part of Glennon Brothers, and to working with them to grow and develop the business in the years ahead,” said Mike Glennon, of Glennon Brothers.
“This is another milestone in Glennon Brothers’ history, which dates back to 1913 and we are thrilled to have Balcas join us on the journey moving forward,” said Pat Glennon, of Glennon Brothers.
“We are excited to be joining Glennon Brothers, a business with a deep-rooted history in the timber processing sector and values aligned to our own,” said Brian Murphy, CEO of Balcas remarked.
A decision by the competition authorities is expected this summer.
