Mike and Pat Glennon
Glennon Brothers, a third-generation family timber processing business headquartered in Longford, has entered into an agreement with SHV Energy to purchase Balcas Ltd.
The deal is subject to approval from the Competition and Markets Authority in the UK and Competition and Consumer Protection Commission in Ireland.
Glennon Brothers, the main sponsors of Longford GAA, have timber processing plants in Longford, Cork and Troon and it has 500 employees and 250 indirect employees in Ireland and the UK.
Balcas operates a sawmill in Enniskillen, County Fermanagh, Northern Ireland, producing quality sawn timber products for the Fencing, Landscaping, Agricultural, Construction, and Pallet & Packaging sectors.
In addition, the business operates two renewable energy plants at Enniskillen and Invergordon, Scotland, which incorporate CHP (Combined Heat & Power) and wood pellet production.
Balcas has 380 staff and had sales of £108.7 million in 2019 and cleared a profit of £6.3 million.
Mike Glennon, of Glennon Brothers commented: “We look forward to welcoming the Balcas team onboard as part of Glennon Brothers, and to working with them to grow and develop the business in the years ahead."
Pat Glennon, of Glennon Brothers, added, “This is another milestone in Glennon Brothers’ history, which dates back to 1913 and we are thrilled to have Balcas join us on the journey moving forward."
Brian Murphy, CEO of Balcas remarked: “We are excited to be joining Glennon Brothers, a business with a deep rooted history in the timber processing sector and values aligned to our own."
A four year old boy who was tragically knocked down and killed by a van in a Co Longford housing estate yesterday has been remembered as a “lovely little gusun” who had a “heart of gold”.
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