Global industrial group Purever Industries has acquired Ardmac, a Dublin-headquartered international specialist contracting firm, for an undisclosed sum.
Ardmac is a provider of clean, technical and working environments to the life sciences, data, micro-electronics, electric vehicle (EV) battery and commercial sectors across Europe. It employs about 500 people and had revenues of €200 million in 2023.
Purever Industries is a leading industrial manufacturer of cleanroom and isothermal products for a wide range of markets. Purever has operations in seven countries and its products are sold in more than 80.
The business, founded in Madrid in Spain in 2001 but now headquartered in Portugal, employs about 1,100 people and had recorded revenues of €222 million in 2023.
Purever chief executive Luis Coelho Borges will assume responsibility for the business and will be supported by the current management team for a period as the business transitions and integrates, Ardmac said. Following completion of the acquisition, Ardmac will continue to operate and trade under its existing identity and structures.
“The acquisition of Ardmac represents a landmark moment for the Purever group as we continue to scale and diversify our core offering. Significant synergies will be created as a consequence of this transaction, and we believe both businesses will benefit from growth in this regard,” said Purever chief executive Luis Coelho Borges.
Combining the businesses will bring “a competitive advantage in our markets”, he added.
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Ardmac chief executive Ronan Quinn said he was “delighted” that the company would become part of the Purever group through the acquisition.
“Purever’s strong and complementary fit, alongside Ardmac, will serve to strengthen the business’s growth ambitions into the future. Likewise, following the completion of the transaction, both businesses will benefit from enhanced capabilities, expertise and scale,” he said.
“It has been a privilege to have led the Ardmac business through a period of significant growth and I’m grateful to our talented team for all their efforts during that time. It is a great comfort to know the business is in good hands with Luis and the rest of the team at Purever, who appreciate Ardmac’s potential and are targeting growth.”
Ardmac was advised on the transaction by Capnua Corporate Finance and William Fry, while Purever was advised by PLEN in Portugal and Matheson in Ireland.
Ardmac, established in 1977, has grown over the decades from a small Irish operation into a leading provider of high-tech clean rooms, data centre solutions, specialised refurbishments and turn-key construction of manufacturing facilities across Europe. Its Dublin headquarters are based in Swords.
The acquisition does not include Carlow-based Cental Engineering Ltd, a business Ardmac shareholders acquired an equity stake in during 2020. Cental will continue to trade as normal.
