H&MV Engineering secures €1.4 billion valuation in funding deal

Limerick-based high-voltage specialist H&MV Engineering has finalized a €750 million continuation vehicle, pushing its total valuation to €1.4 billion. Led by existing backer Exponent, the transaction brings in Apollo S3, Pantheon, and SQ Capital to bankroll an aggressive expansion into the U.S. and a massive global hiring drive.

Money Talk·August 11, 2026·reads: 1,006

H&MV Engineering secures €1.4 billion valuation in funding deal

The deal signals a major scaling effort for the firm, which has seen its revenues surge from €61 million in 2020 to a projected €1 billion for the 2026 fiscal year. With a current order book of €2 billion and a project pipeline valued at €16 billion, the company is positioning itself to capture the rising demand for high-voltage infrastructure driven by data centers, battery storage, and the global energy transition.

CEO P.J. Flanagan stated the new capital provides the runway necessary to meet the company’s five-year target of €3 billion in annual revenue. To support this trajectory, H&MV plans to grow its global workforce to 3,000 employees and will open a North American headquarters in Dallas later this year. The firm currently employs over 1,900 people and operates across three continents.

Exponent, which has been a long-term partner to the business, will maintain its stake through the new vehicle. Tim Easingwood, a partner at Exponent, described the investment as a milestone that reflects the company’s critical role in global power infrastructure. The transaction remains subject to regulatory approval and is expected to close in September 2026.