Hydro International, whose customers include ABP Food Group, Kerry Group, Irish Water and Coca Cola, specialises in designing and implementing wastewater purification and effluent treatment systems for a range of applications across industries including food, dairy, abattoirs and pharmaceuticals.The deal is the first step in BHSL’s strategy to expand the range of applications of its patented fluidised bed combustion (FBC) technology, and serve the municipal and industrial sectors in extracting value from waste products.
Hydro International, whose customers include ABP Food Group, Kerry Group, Irish Water and Coca Cola, specialises in designing and implementing wastewater purification and effluent treatment systems for a range of applications across industries including food, dairy, abattoirs and pharmaceuticals.
The deal is the first step in BHSL’s strategy to expand the range of applications of its patented fluidised bed combustion (FBC) technology, and serve the municipal and industrial sectors in extracting value from waste products.
The existing operations and 25 staff of Hydro International will be merged with BHSL, with Hydro’s managing director PJ Finn heading up a new BHSL-Hydro division.
Hydro International was established in 1994 and has commissioned over 500 plants with various treatment and recycling services.
Who are BHSL?
BHLS was itself founded in 2009 by brothers Declan and Jack O’Connor from Limerick. The company converts chicken litter into an energy source and has gained widespread attention in recent years, particularly since the EU authorised the use of poultry manure as a fuel in 2014.
This announcement comes as BHSL closes a fundraising process that has raised a total of €7m in new equity to support its growth plans as it actively seeks further acquisitions in the waste processing sector. It is reported that some of this money will be used for research and development.
Last year, BHSL strengthened their position in the market by raising €5m in equity and announcing former Kerry Group chief executive Denis Brosnan as the new chair of the company. In addition, Brosnan joined non-executive directors such as former ESB chief executive Pádraig McManus, retired Supreme Court judge Fidelma Macken, veteran corporate financier David Hickey and Limerick businessman Tom Lynch.
Commenting on the acquisition, BHSL managing director Declan O’Connor said the merger would provide a strong platform for the Irish firm to expand.
“Hydro International is an excellent fit for BHSL and the acquisition supports our strategy to expand into a broader environmental solutions business, focussed on extracting value from waste products,” he said.
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