Irish engineering company Obelisk acquired by Portuguese conglomerateBlathnaid O’Deaon May 3, 2022 at 12:44 Silicon RepublicSilicon Republic

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Irish engineering services company Obelisk has been acquired by Constructel Visabeira, a telecommunications and energy networks engineering company based in Portugal. It is a subsidiary of the multinational and multi-sector holding company, Grupo Visabeira.

Founded in 1996, Obelisk currently employs around 250 people across Ireland and the UK. In joining Grupo Visabeira, it will be able to expand its current operations into new markets in countries such as France, Germany, Belgium, Portugal, Spain, Italy, Denmark, Sweden and the US.

Obelisk will continue to provide existing services and turnkey infrastructure to clients in the Irish and UK telecoms and energy sectors as part of the Portuguese conglomerate. It will also increase its technical capacity to help build further growth opportunities in digitalisation, technology infrastructures, fibre deployment and the continued international investment in mobile and wireless networks.

Commenting on the deal, Obelisk’s newly appointed CEO, Ronnie Delaney, said he was very pleased to welcome a new chapter in the company’s growth. “The coming together of Obelisk and Constructel Visabeira will create one of Europe’s leading telecommunications and energy services companies, with expected annual turnover in excess of €1bn.”

Delaney added that Obelisk would be “well positioned” to accelerate new growth opportunities, as well as continue investing and expanding its workforce across the UK and Ireland.

Obelisk founding directors Colm Murphy and Padraig Brady, who founded the company 26 years ago, said they looked forward to “this new era of business and continued success with Constructel Visabeira” to offer clients across the globe a more diversified service offering.

Constructel Visabeira CEO, Nuno Marques welcomed Obelisk to the group, saying their team looked forward to working together. “We place quality and efficiency at the centre of everything we do, and as we look toward new trends in the telecoms, power and technology sectors, our new partnership with Obelisk will complement our overarching vision to increasingly meet the global needs of our various international markets.”

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