From left: NRG’s Conor Foley, JFW’s Gearoid Whelan and Melior MD Jonathan Dalton. Image: Iain White/Fennell Photography
The companies plan to combine their strengths to expand their services across Ireland, with a new leadership team comprising senior talent from both businesses.
NRG Panel has acquired Galway’s JFW Renewables, in a bid to create one of Ireland’s largest energy services firms.
The acquisition was supported by Irish private equity firm Melior Equity Partners, which has NRG as a portfolio company. NRG and JFW have 125 staff and serviced more than 3,500 new customers over the last year.
Melior first partnered with NRG in October 2023. NRG was founded in 2015 and has made its name as a solar PV and air-to-water heat pump installer. The company has been growing rapidly since then and recently shared plans to create 125 new jobs over the next three to five years.
JFW was founded in 2021 and provides residential and business customers with solar PV, battery and EV charging services. The two companies aim to combine their respective strengths into a single business and service the island of Ireland from dual bases in Monaghan and Galway. The financial details of the deal were not disclosed.
The two companies plan to further expand their operating footprint across Ireland and expand the renewable energy services they provide with the support of Melior.
The combined companies will be managed by NRG CEO Conor Foley, supported by a leadership team formed from senior talent in both businesses. JFW founder Gearoid Whelan will retain a significant equity stake in the group and will join the leadership team in the role of CRO.
“The scale of the combined group, with the support and capital backing of Melior, will allow us to invest ambitiously in our people and add a range of exciting new services for our customers,” Whelan said. “I am very proud of what we have achieved so far in JFW and would like to thank all of our staff for their support to date.”
Melior Equity Partners is backed by a pool of local and international blue-chip investors including The Carlyle Group, the European Investment Fund, Ireland Strategic Investment Fund, Bank of Ireland and AIB.
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