In May, Glennon Brothers announced its plans to purchase Co Fermanagh, Ireland-based Balcas from its owner SHV Energy, subject to approval from competition regulators. Those approvals have now been completed. Balcas was established in Enniskillen, Northern Ireland in 1962 and consists of two divisions, Balcas Timber and Balcas Energy. Combined, the business has a turnover of £108 million a year and employs 370 people.
Balcas Timber incorporates the sawmilling operation in Enniskillen, County Fermanagh, which produces quality sawn timber products for the Fencing & Landscaping, Agricultural, Construction, and Pallet & Packaging sectors. In addition, Balcas Energy operates two renewable energy plants at Enniskillen and Invergordon, Scotland, which incorporate CHP (Combined Heat & Power) and the manufacture of Balcas Energy Wood Pellets.
Glennon Brothers has been at the forefront of green technology solutions within the sawmilling sector having recently invested in a CHP Plant within its existing facility in Troon in 2016. The addition of two further CHP Plants as part of the Balcas acquisition offer further synergies as well as reinforcing the business’ green credentials and overall commitment to sustainability.
Mike Glennon commented: “We are delighted to have completed the acquisition of the Balcas business, which will enhance our overall product and service offering, as well as diversifying our route to market via Balcas’ Energy Division. This is a significant milestone in Glennon Brothers’ history, which dates back to 1913, and provides our customers with a broader range as well as increased overall production capacity for the future. This acquisition allows us to continue fulfilling our commitment to our customers of offering a one stop shop solution for sawn softwood across UK and Ireland.”
Commenting on the sale of the Balcas business, Brian Murphy, the CEO of Balcas said, “The team at Balcas are delighted to be joining the Glennon Brothers family of companies, and we look forward to exciting times ahead for the enlarged business.”
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Longford sawmill giant Glennon Brothers shake hands on multi million euro Balcas deal