PM Group to acquire Cork-based construction tech firm via IrishTimesBiz
Will Wilmott, Milestone Solutions managing director; Rosita Fennell, chief financial officer PM Group; and Dave Murphy, chief executive of PM Group. The two companies had previously partnered on a number of large projects.PM Group, the Irish-based international engineering and construction management company, has agreed to buy Cork-anchored Milestone Solutions in a move that it says will significantly expand its automation and IT offering to multinational clients.
While no financial details of the transaction, which is subject to regulatory approval, have been revealed, Milestone had revenues of €18 million last year and forecasts revenues of around €25 million this year. In a statement, PM Group said the “strategic acquisition” will enhance its ability to deliver automated and smart manufacturing systems to its industrial clients, which have included the likes of MSD, Pfizer and Alexion. Both companies already share a number of those clients and have previously partnered on large projects.
“Automation and integration services are key components of our growth strategy and acquiring a top-class company in Milestone will accelerate our ability to become an industry leader in this area,” said Dave Murphy, PM Group chief executive.
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