Suir Engineering, a Waterford company which employs about 1,300 people, has been acquired by a UK private equity firm.
Suir had been a jointly-owned subsidiary of Dalkia and EDF Energy, which are energy service companies.
It has now been acquired by Duke Street and becomes the latest in the private equity firm's investments.
In the last 25 years, they've invested €2.5bn in more than 50 companies.
Operations are set to continue at Suir Engineering's base in Waterford, as well as at its other locations of Dublin, Frankfurt, and Copenhagen.
Suir Engineering was first founded in Mooncoin in 1984 but relocated to Waterford 20 years later.
They describe themselves as being a leading provider of mechanical, electrical, and instrumentation engineering solutions.
They've worked on projects including pharma, data centres, wind farms, and the first battery energy storage project in Ireland.
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