Limerick’s H&MV Engineering taps fresh funding, shares hiring plans

From left: H&MV Engineering CEO PJ Flanagan and MD David Maher. Image: H&MV Engineering

The company wants to grow its headcount by a thousand in the next five years.

H&MV Engineering has tapped around €750m in extended investments from European private equity company Exponent, with plans to recruit across its international operations. The fresh funding values the Limerick-headquartered business at €1.4bn.

The critical power infrastructure services provider said the funding will help the company’s next phase of growth, with a focus towards US expansion. The continuation vehicle also brings in new investors Apollo S3, Pantheon and SQ Capital.

Power infrastructure providers play a key role in enabling the expansion of newer technologies including AI and data centres (which have grown at a 12pc pace every year since 2020), and battery storage systems.