Buttimer Engineering announced an investment from Development Capital to further its expansion plans.
Headquartered in Tipperary, Buttimer Engineering has today (14 November) announced plans to double its current workforce to more than 400 by 2028. Also unveiled was a partnership and investment deal with growth firm Development Capital.
Founded in 1978, Buttimer specialises in bulk material handling systems and steel fabrication to service industries such as agriculture, construction, data centres, energy, pharmaceuticals and food and beverage.
With the investment from Development Capital, Buttimer aims to accelerate its expansion plans in new and existing markets and double its revenue to €65m. While it is currently unclear which departments will be looking to add team members, Buttimer Engineering has stated plans to advance their innovation and growth.
“Being our first external investor, this investment and collaboration with Development Capital marks a significant milestone for Buttimer Engineering and aligns perfectly with our long-term vision,” said company CEO Fergal Buttimer.
“We look forward to working with Fran Stafford, Andrew Bourg and the wider Development Capital team to drive further growth and to fuel our expansion plans.”
The development capital partner and co-founder of Development Capital,
Development Capital partner and co-founder Andrew Bourg said the company is “delighted to complete this investment in Buttimer Engineering, our second investment in Munster”.
“Buttimer Engineering is an established and fast-growing business with a clearly defined growth plan that is led by an experienced and ambitious CEO and senior management team. We spent a lot of time getting to know them and we are really looking forward to partnering and assisting them accelerate that growth potential.”
Earlier this year, Development Capital invested in Zartis, a software consultancy company. The business received the €10m investment to put towards international growth, business expansion and a move into the AI space.
Don’t miss out on the knowledge you need to succeed. Sign up for the Daily Brief, Silicon Republic’s digest of need-to-know sci-tech news.
