We have advised Exponent Private Equity, a leading European private equity firm, on its investment in OFS, a provider of specialist technical services for the global power industry. OFS delivers engineering services across the installation, commissioning, maintenance and operation of gas turbines and related generation assets. The transaction was supported by our M&A and Debt Advisory teams.
Headquartered in Naas, Co. Kildare, OFS was built over the past 20 years by founders Eric Kavanagh and Joseph Dunne into a business with a significant international presence spanning 40 countries. The company serves blue-chip customers across the data centre, power generation and oil & gas sectors, with partners including Mitsubishi Power, Solar Turbines, Siemens, GE Vernova and Vantage.
The business is underpinned by long-standing OEM partnerships, a globally deployed workforce of more than 150 OEM-authorised engineers and technicians, and a high level of recurring framework agreement revenue.
Exponent has a strong track record of backing ambitious, founder-led Irish businesses and will partner with OFS to accelerate growth by investing in its commercial capabilities, people and service offering, while capitalising on growing demand across its end markets.
The Clearwater team provided both M&A and Debt Advisory services to Exponent to assist with its investment in OFS. This deal marks another significant transaction for our Irish team in the industrial and data centre space, building on our recent work with H&MV, Ethos Engineering, GMC, and Nahanagan Engineering.
