Founded in Kilkenny in 1984, Suir Engineering was acquired by private equity group Duke Street in 2022.
Waterford-based Suir Engineering is creating 200 jobs this year after a whopping 41pc turnover growth rate in 2023.
In an announcement today, Suir CEO John Kelly said the engineering company reported a turnover of €429m last year and has improved its liquidity base over the past 12 months.
Suir provides mechanical, electrical, instrumentation and high-voltage engineering services across Ireland, Sweden, Denmark, Germany, and most recently, Finland and the UK. This year the firm marks 40 years in the business.
Clients come from a range of industries, including pharmaceutical, life sciences and data centres, and the company said it has been growing its portfolio in the energy, power and renewables sector.
Kelly said that Suir’s energy business has quadrupled in size in the last six years. The division now generates €120m each year, with novel electrical power projects across Ireland and the UK.
“We are marking our 40th anniversary in 2024 and already, it’s shaping up to be our strongest ever given the €500 million order intake last year,” Kelly said.
“This is a testament to our highly skilled workforce and a demonstration of the confidence our clients have in our work and our people. Having closed the 2023 management accounts, we’re really pleased to be able to lay such strong foundations for 2024 and are optimistic that we will achieve another record-breaking performance, with new opportunities on the horizon.”
To mark the next phase of growth at the company, Kelly said Suir will create 200 new jobs to bring its headcount from 1,500 to 1,700 this year. It currently has vacancies for electricians, engineers and instrument technicians, among others.
Suir was founded in Kilkenny in 1984 and was acquired in 2022 by private equity group Duke Street in a deal reportedly worth up to €80m. While the company is headquartered in Waterford, it has offices in Dublin, Stockholm, Copenhagen, London and Frankfurt.
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