Modus Energy to be sold for €10m
Serial entrepreneur Norman Crowley has agreed a €10m deal to buy Modus Energy in Kilkenny, an energy services business that helps clients monitor their energy use.
Modus Energy co-founders Sean Doyle and Rodger Greene will join Crowley Carbon as directors to manage the development and delivery of the CCubedTM (Carbon Control Centre) suite of products and services, following the deal.
Energy efficiency business Crowley Carbon's main services focus on reducing energy consumption by large industrial and commercial sites, by providing information systems and controls.
Cork-born businessman Norman Crowley founded the energy business in 2009. He'd previously established and sold a number of companies including Trinity Commerce and Inspired Gaming.
Modus Energy's co-founders said that the sale would provide an opportunity for them to market their services to a global audience.
"This deal offered us an opportunity to bring our unique skill-sets to a global market, and a share in helping Crowley Carbon to become a global leader in energy efficiency services, and one of Ireland's most exciting exports," they said in a statement.