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The Irish firm will be bought by Cathexis, which was recently reported to have invested in the Irish mechanical and electrical engineering contractor Leo Lynch.
As reported by the Irish Examiner, Jones Engineering will be bought by Texas-based investment firm Cathexis for hundreds of millions of euro it is understood.
Jones Engineering — which is a mechanical, electrical and fire protection contractor and also builds data centres — employs nearly 5,000 people and is looking to hire more staff after the acquisition is completed.
Jones Engineering has recently posted jobs looking to recruit people in Cork, Limerick, Dublin, Dundalk, Kildare, and other areas in Munster, Leinster, Europe, and the UK.
In December 2021, Jones Engineering posted in excess of €900m in turnover, while its profit for 2020 was €51m.
Jones Engineering has operations throughout Ireland, the UK, Europe, the Middle East, and South Africa ,and works with a blue-chip client base across 19 countries.