Dublin firm Actavo has moved into US market
Dublin-based engineering services group Actavo has expanded into the US for the first time, in a deal that management here described as "transformative".
Actavo, formerly known as Siteserv, has acquired Atlantic Engineering Services (AES), a business that designs telecoms networks and has operations in Georgia, Texas, Missouri and Colorado.
It is the first North American deal for Actavo, which already operates in more than 100 locations worldwide and has a global workforce of 5,000.
The US deal will add an additional 120 jobs, mainly in high-end engineering roles. Financial details have not been disclosed, but the acquisition is debt-funded, with financing from a syndicate led by AIB and Bank of Ireland.
Actavo chief Sean Corkery said the AES deal is his company's biggest to date, and is "transformative".
"Actavo's acquisition represents a significant and strategic milestone in our company's growth plan," he said.
"The US is an important, dynamic market for us - we see strong demand in North America for the telecommunications solutions we can now offer.
"This is a logical next step for us at this time and takes Actavo into new areas, both geographically and in terms of our customer proposition.
"I look forward to working closely with our new colleagues in providing end-to-end solutions to the telecommunications sector across the US and internationally."
As well as a beach-head into the US market, AES' network design capability will mean Actavo can also now offer a full service from design to build and installation to telecoms customers in its existing markets, facilitating an end-to-end offering market, the company said.
The deal is targeted in particular at servicing the Fibre-To-The-Home market in the US, where a massive investment programme is under way.
By September 2019 the total number of homes with fibre in the US will almost double.