Fermanagh firm Balcas sold to Glennon Brothers
- Published
Balcas, the Fermanagh-based timber business, is being sold to a company in the Republic of Ireland.
Glennon Brothers, which has its headquarters in Longford, is buying the firm from the Dutch company SHV Energy.
Balcas operates a sawmill and two renewable energy plants. The deal is subject to approval from competition regulators in the UK and Ireland.
Glennon Brothers has been operating since 1913 and has five facilities in the Republic and Scotland.
Brian Murphy, chief executive of of Balcas, said: "We are excited to be joining Glennon Brothers, a business with a deep rooted history in the timber processing sector and values aligned to our own."
Mike Glennon, of Glennon Brothers, said the company looked forward to "welcoming the Balcas team onboard and to working with them to grow and develop the business in the years ahead".