Ethos Engineering has struck a deal with private equity firm, Exponent, which will support the design firm for data centres in its aim to employ an additional 250 employees. The agreement comes on the heels of Exponent’s recent decision to acquire Michael Burke’s Chanelle Pharma at a cost of up to €300 million. The significant commitment of Exponent will prompt the growth aspirations of Ethos, enhancing the range of services offered to clients.
Ethos announced a plan to establish 250 new positions within the next five years as a result of this agreement. Operating in 19 countries, Ethos is situated in the Republic, and specialises in building design and electrical and mechanical engineering. Previous achievements include their work on Microsoft’s European headquarters in Leopardstown, Dublin.
Ethos frequently designs and constructs a high number of data centres, an area in which demand continues to escalate. The involvement of Exponent will open up the prospect of delving into other sectors and international markets.
While the specifics of the agreement were not disclosed, it has been confirmed that Greg Hayden, the chief executive and shareholder of Ethos Engineering, alongside his management team will maintain control of the company.
Since its inception in 2004, Exponent, with offices in Dublin, London, and Amsterdam, has raised €3 billion, investing it in various businesses like Trainline, the travel app; Racing Post newspaper; Fintrax, now known as Planet; and most recently, Chanelle Pharma.
Hayden hailed the investment from Exponent as a significant turning point for Ethos, emphasising the growing demand for data and the importance of sustainable and energy-efficient services for data centre owners.
Exponent’s Anthony Clegg projected artificial intelligence and cloud services as the continual driving force for worldwide data centre demand, and his associate John Moore expressed the firm’s excitement to have been chosen by Hayden and his team for the next step of the engineering company’s journey.