Partners in Dublin-based construction consultancy firm Linesight have shared the spoils of a multi-million-euro deal to sell the company.
Insight, which employs more than 900 people and has offices in 24 countries around the world, was acquired by the US Pennsylvania Integrated Project Services (IPS) corporation.
The American company is a subsidiary of Al-Ghani Capital Corporation, which in turn is part of the investment holding company Alleghany Corporation listed on the stock market.
Linesight provides consulting services on projects across a range of sectors, from data centers, healthcare, hotels and life sciences to retail and residential, and its clients have included the likes of Microsoft, Dell and IBM.
Among the executives who will share the company’s payments are CEO Paul Boylan, as well as former CEO Jerry Campbell.
The partners in the company own the majority of the company, and the heads of other offices are also understood to own small stakes.
The co-founder is Brendan O’Mara, who has gone on to be a shareholder in the company, and is also among those who will gain from the sale.
Purchase price not disclosed. Linesight protects its turnover and profitability through an unlimited company in Ireland and entities based in the Isle of Man. However, in 2016, Linesight generated sales of about 60 million euros.
Given that the construction sector has continued a rapid pace of growth despite the Covid pandemic, it is likely that the company has seen strong revenue growth since then.
In 2016, Campbell told Irish Independent That at that point, profitability was low, as money was reinvested in the business.
The US company said the acquisition is being treated as a future integrated partnership where IPS will benefit from Linesight’s expertise and experience, particularly in the data center sector.
She added that Linesight, in turn, would benefit from IPS’s expertise in the life sciences sector.
The company added that both companies will expand their geographic reach, build on their core strength and expand their service offerings to their target clients globally.
IPS employs more than 1,700 employees in 22 offices around the world.
Its CEO Dave Goswami described the acquisition as « transformative » for both companies.
Boylan said the deal marks a « pivotal point » in Linesight’s history and will enable the company to implement its ambitious strategic plans.
« Spécialiste de la télévision sans vergogne. Pionnier des zombies inconditionnels. Résolveur de problèmes d’une humilité exaspérante. »