Acquisition of Irish-headquartered company will accelerate strategic growth in Europe.
CORK, Ireland, July 24, 2024 /PRNewswire/ -- Dornan Engineering Group ('Dornan' or the 'Group') is pleased to announce that it has agreed to be acquired by Turner Construction Company ('Turner'). Dornan is a specialist mechanical, electrical, instrumentation and commissioning engineering contractor with operations in Ireland, the UK, Continental Europe, and the Nordics. Turner's 12,000 people complete $18 billion annually and is the largest building contractor in North America with a growing presence across Europe. The agreement to acquire 100% of Dornan is subject to the customary merger control approval process in the European Union.
Dornan has over 1,000 direct employees and expects to deliver €700 million of turnover this year. It has a backlog of approximately €1.1 billion. Dornan delivers services on complex large-scale projects for blue-chip clients predominantly in the advanced technology sector, including data centres and biopharma facilities. This sector represents approximately 85 percent of Dornan's order book. The Group also delivers key projects for clients in the industrial, healthcare, commercial, aviation, and education sectors.
Dornan is a leader in the advanced technology market in Europe and Turner is long recognised as a leading player in this market in North America. Both companies have well-established long-term client relationships. The combination of Turner and Dornan creates a business of significant scale in Europe with the ability to deliver an increased portfolio of work and a wider range of services.
Turner has expanded its service offering in Europe and is working on data centre projects in the Netherlands and Spain. Through the complementary services of Dornan, Turner sees a significant opportunity to expand its presence in Europe with new and existing clients.
"Dornan brings incredible strength to Turner and is an important part of Turner's strategy to serve clients wherever their needs are," said Peter Davoren, President and Chief Executive Officer, Turner Construction Company. Davoren continued, "The combination of Turner and Dornan will enable us to offer a broader range of services and solutions that our clients seek in Europe."
"Our employees and clients will benefit greatly as Dornan joins the Turner family of businesses," said Brian Acheson, Chief Executive Officer, Dornan. Acheson continued, "Our clients will continue to enjoy the same level of superior service as we deliver complex technical projects within time and on budget. They will also benefit from the increased strength of Dornan as part of a company with over $18 billion of turnover. Similarly, our employees will find increased opportunity provided by Turner to grow Dornan. I am genuinely excited and really looking forward to our future together."
"Turner has identified $20 billion of advanced technology project opportunities in Europe," said Mike Kuntz, Executive Vice President, Turner Construction Company. Kuntz continued, "The technical expertise of Dornan's people, range of offerings, record of excellence in client service, and shared values made the company the obvious choice for Turner to accelerate growth in the region."
About DornanEstablished in 1966, Dornan is a specialist mechanical, electrical, instrumentation and commissioning engineering contractor with operations across Ireland, the UK, Continental Europe and the Nordics, with major project experience across a wide range of sectors. For decades, Dornan has been providing complex engineering solutions to some of the world's most admired companies. To learn more about Dornan visit www.dornangroup.com.
About Turner Construction CompanyWith over 12,000 employees, the company completes $18 billion of construction on 1,500 projects each year. Our vision is to be the highest value provider of construction services. We deliver our services on complex and challenging building projects of all types and sizes throughout North America and in 30 countries around the world. We seek to create a healthy, prosperous, and sustainable future for our people, clients, partners, and the planet. We have earned a reputation for integrity, working safely, and driving innovation. With a focus on creating an environment where people can be at their best, be authentic, and be treated with respect and dignity, the company is widely recognized as a great place to work. The firm is a subsidiary of HOCHTIEF, an engineering-led global infrastructure solutions provider with leading positions in North America, Australia and Europe and a rapidly expanding presence in high-tech, energy transition and sustainable infrastructure markets. Turner and HOCHTIEF are part of the ACS Group of companies which has 140,000 employees worldwide and had revenue of €35.7 billion in 2023. To learn more about Turner visit www.turnerconstruction.com.
Contact: Micheál O ConnorMicheal.oconnor@dornangroup.com+353 21 2330938
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