Construction company Sisk is to buy a 50pc holding in the facilities management division of Designer Group as part of a new joint venture deal between the pair.
The deal between Ireland's biggest builder and the Blanchardstown-based electrical and mechanical engineering firm will see them jointly seek new facilities management contracts across the public and private sector.
Designer Group, founded by former Construction Industry Federation president Michael Stone, has in recent years become a key player in the electrical and mechanical business, winning contracts on many of Ireland's biggest construction projects.
Financial details of the joint venture deal, which is subject to approval from the Competition and Consumer Protection Commission, have not been disclosed. Sisk chief executive Stephen Bowcott said the new joint venture will have "the capability, credibility and financial strength to deliver fully integrated facility management services to both existing and new customers in the Republic of Ireland".
He said it would look to "address the changing needs of building users, which includes everything from minor works to facilities upgrading and maintenance.
"In developing this business, Sisk and Designer Group are committed to investing in the latest diagnostics and digital applications to drive the most efficient use of these services".
Designer Group has greatly enhanced its digital and technological capabilities in recent years, offering high-end virtual reality facilities to clients planning building projects.
Stone said the company was "ambitious and sees real possibilities in the facilities management sector in Ireland".