Thermodial management team achieves 100% MBO

16/03/2023 – Thermodial - Pictured (from left) Turlough Kinane (Managing Director); Mark Carrick (Projects Director); Alan Keegan (Operations Director). Photograph Nick Bradshaw

The management team of Thermodial has completed the 100% buyout of the company with the goal of increasing turnover by 30% to €13 million and growing employee numbers to over 100 people by 2026.

Headed by Managing Director Turlough Kinane, Thermodial is a leading operator in the installation and maintenance of commercial (HVAC) and building energy management systems (BEMS) in Ireland. Their clients include Eir, Microsoft, JLL and Super Valu, as well as institutions in the public, education and leisure sectors.

The buyout sees Turlough Kinane, Alan Keegan (Operations Director) and Mark Carrick (Projects Director) acquire the remaining 45% shareholding from the founders, giving the trio 100% ownership of the company.

Turlough commented, “We have built a strong reputation in the market and have been successful in being accredited with four ISO standards. That combination of client trust and expertise has enabled us to broaden our services and to grow the BEMS side of the business. This provides a diversified base to continue our growth story.”