July 2018: MBO of leading Irish recycling engineering business Turmec

Turmec (www.turmec.com) is an Irish-based expert in the design, manufacture and installation of recycling plants and equipment. The business specialises in the end to-end design and build of complex waste separation and processing systems which are critical for large, efficient waste processing and recycling plants. The business serves a blue-chip customer base of corporates and semi-state agencies including Biffa, Thorntons, Suez, Bord na Mona, AES and Powerday predominantly across the UK and Ireland, but increasingly further overseas.

The global opportunity for Turmec is expanding rapidly in line with increased recycling rates due to environmental concerns and the pressures on landfill. This is good news for Turmec as its systems help customers to recover more high-quality material from recycled waste more efficiently.

The business employs 75 people in its headquarters in the Irish-speaking Gaeltacht area of Co. Meath, at Athboy. Causeway invested c.€4 million to back the MBO team led by Managing Director, Brian Thornton. Former majority shareholder Joe Coffey will remain involved in Turmec. Niall Fay, a Director at Offaly-based Grant Engineering, has joined the board as non-Executive Chairman.

See coverage here.