Wednesday 13 December 2017

Buyer is sought for global engineering giant Mercury

Mercury has worked on Dublin Airport Terminal 2, the Aviva Stadium and the Shell Corrib Gas terminal, as well as a number of data centres at home and abroad Picture: Sportsfile
Mercury has worked on Dublin Airport Terminal 2, the Aviva Stadium and the Shell Corrib Gas terminal, as well as a number of data centres at home and abroad Picture: Sportsfile
Gavin McLoughlin

Gavin McLoughlin

One of Ireland's largest engineering businesses is up for sale, the Sunday Independent understands.

Dublin-based Mercury Engineering, which has worked on some of the most high-profile projects in Ireland, is seeking a buyer.

The business, which is unlimited and so does not have to file detailed financial accounts, has annual revenues of €500m and more than 3,000 employees worldwide, according to its website.

Mercury has worked on Dublin Airport Terminal 2, the Aviva Stadium and the Shell Corrib Gas terminal, as well as a number of data centres at home and abroad.

It also constructed a prototype stadium as for Qatar's bid to host the 2022 World Cup.

Mercury has worked in 31 countries including the UAE, Oman, Libya, and Saudi Arabia.

Buyers were reported to have been circling the business as far back as 2011.

Mercury, now led by chief executive Eoin Vaughan, was set up in 1972 by Joe Morgan and Frank O'Kane. Companies Registration Office documents list its owner as an overseas company called Carterton Holdings.

Its strategic plan, which it calls Mercury 2021, says the company wants to be "to be the most successful multidisciplinary engineering contractor in every sector and geographical area in which we operate."

"Our 2021 Mission now requires our company to continuously adopt better practices, improve corporate structure and focus on building momentum in what is an increasingly competitive construction market," the plan says. A company spokesman did not respond to a request for comment.

Sunday Indo Business

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