based gas turbine specialists
Private equity firm Exponent is investing over €70 million in Irish gas turbine specialist OFS to support its global growth. The partnership aims to scale OFS's services, which are increasingly vital for powering data centers.
Why it matters
The investment underscores the growing demand for reliable, 'behind the meter' power solutions as data center energy requirements surge.
Exponent has announced it is investing in Irish based gas turbine specialist OFS.
The European private equity firm said it will partner with the company which provides support to data centres worldwide to accelerate growth, and to invest in people and services.
The financial terms of the agreement have not been disclosed, although the investment value is understood to be above €70m.
OFS, which is headquartered in Naas, Co. Kildare, with offices in Houston, Texas, said it plans to double its workforce from 200 people in the coming years.
Its specialist teams work in more than 40 countries for customers including Mitsubishi Power, Solar Turbines, Siemens, GE Power and Vantage.
Exponent is backing the incumbent management team, led by founders Eric Kavanagh and Joseph Dunne.
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