26 Jan 2018 | 02.39 pm
Malone Group Acquires Two UK Firms
Acquisition and restructuring costs of €500,000
26 Jan 2018 | 02.39 pm
Malone Group, one of Ireland’s leading Project Management firms, has acquired two UK companies to expand the group’s market presence.
The announcement of the acquisitions, which were effected in August 2017, was made at the opening of new UK offices in Burton on Trent today, where Minister for Business Andrew Griffiths performed the opening ceremony.
CEO Stephen Malone (pictured) stated: “While many Irish companies have been paralysed by Brexit and are fearful of the implications, we are embracing the opportunities it presents. These acquisitions sees our workforce increase from 60 to 100 staff with company turnover expected to top €12m in 2018.”
Malone Group was established in Dublin in 1999 and opened its first UK office in 2012.
“Brexit provides opportunities but needs a tenacious approach,” Malone added. “Our leadership team chose to use Brexit as a catalyst for innovation, to enhance our processes and to acquire key strategic resources rapidly grow our market share. We provide a full suite of professional engineering and safety services to some of the world’s leading manufacturers and plan to build relationships with many more.”
Malone Group, based in Dublin, also has offices in Warrington and Calgary in Canada. The company’s customer base is largely made up of organisations in the brewing, pharmaceutical, food, beverage, energy, green-tech, and utility sectors.
Stephen Malone said the acquisition and restructuring costs associated with acquiring Mason James Appointments and FMA Process Engineering represents an investment of €500,000 by the company.
Mason James Appointments, based in the Northwest, specialises in providing technical resources into the FMCG and other manufacturing industries. FMA Process Engineering is primarily involved in capital projects in the brewing and dairy industries. “The FMA acquisition gave us a software integration capability and we have already won a project in Dublin which we would not have previously had the capability to tender for,” Malone explained.
According to Stephen Malone, group activities generated turnover of €7m in 2017 and he expects this to increase to €12m in 2018. The company’s accountants are McInerney Saunders.
Photo: Stephen Malone (right) with Malone Group chairman Tony Keohane (left), Andrew Griffiths and Paul Bunyan, UK MD Malone Group.