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Turmec

Sector
Manufacturing

Location
Co. Meath, Ireland

Status
In portfolio

Investment type
Management buyout (MBO)

Investment date
July 2018

Website
www.turmec.com

Causeway contacts
Pierce Casey, Connor Reid

Turmec 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.

Turmec 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 business employs 75 people in its headquarters in the Irish-speaking Gaeltacht area of Co. Meath, at Athboy.

Causeway backed the MBO team led by Managing Director, Brian Thornton; the team had been in place for many years at Turmec and had overseen strong growth in recent years.

Niall Fay, a Director at Offaly-based Grant Engineering, is non-Executive Chairman.

The global opportunity for Turmec is expanding rapidly in line with increased recycling rates due to environmental concerns and the pressures on landfill.

Turmec is primed to benefit from this as its systems help customers to recover more high-quality material from recycled waste more efficiently.

In conjunction with that global demand and trend towards increased recycling rates, the business is seeking to continue to grow market share in the UK & Ireland, whilst also focusing on other international territories where it has already gained traction.

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