Irish building technology company Xenon Building Technology Limited has completed a management buyout deal (MBO).
Dermot Ryan, previously General Manager of Xenon has bought out the majority shareholder Seamus Byrne who founded the company in 2009.
The new owners of the company are Dermot Ryan, newly appointed COO and Justin Owens, CEO.
Dermot has worked with Xenon for over nine years. Dermot has over 20 years’ experience in the design, installation and providing support services for a variety of advanced electronic security, life safety, and building technologies.
The board will be further strengthened by IT industry veteran Justin Owens who has been appointed CEO. Justin was formerly founder and CEO of Commtech, one of UK & Ireland’s leading independent distributors specialising in infrastructure, networking and security solutions to the IT industry which he sold to Arrow Inc. in 2018.
“We are excited for Xenon Building Technology to enter this next chapter and together see compelling opportunities to accelerate our growth trajectory and enhance customer focus,” said CEO Justin Owens. “We are well positioned to capitalize on the many opportunities before us, and we see tremendous potential to expand our reach into new markets and drive new innovations and capabilities.”
Xenon Building Technology was founded in 2009 and the company has grown to a team of expert engineers delivering quality electrical, electronic security and building technology solutions to the Irish market. With extensive expertise in the electronic security and building management realms, the company and its team helps to ensure the safety of well-known brands by designing and implementing solutions that help leaders manage and respond to critical situations.
“Xenon’s core focus has always been using technology to make a building smarter, safer, and more secure,” adds COO Dermot Ryan. “Today’s dynamic business environment is one of constant transformation. More than ever, companies of all sizes need a technology partner to efficiently and effectively design integrated electronic and building technology systems, empowering businesses to achieve meaningful business outcomes.”
Headquartered in the South East, Xenon has a team of 25 employees. The company plans to grow the existing business organically and via acquisition and further increase national coverage.
