Exponent, a London-headquartered European private equity firm, has reached an agreement to invest in KTL, the Naas, Co. Kildare-headquartered provider of engineering services to the telecommunications and power sectors across Ireland and the UK, backing incumbent CEO Alan Hanamy and his management team. The investment positions KTL to meet accelerating demand from mobile network operators and electricity network operators as both sectors face rising capacity and grid upgrade pressures.

Founded in 1998, KTL has grown from a small civil engineering contractor into an established infrastructure services provider, according to Exponent. The company delivers network build, integration and maintenance for mobile operators including BT/EE, Vodafone, Cornerstone, Cellnex and Three IRE, alongside overhead line engineering for ESB Networks, NIE and UKPN. KTL employs more than 600 people across offices in Naas, Widnes and Glasgow.

KTL generated revenues of over €100 million in its most recent financial year; EBITDA figures are not publicly disclosed. Exponent has invested in Irish businesses since 2012 and opened a Dublin office in 2023, with portfolio companies now employing more than 4,000 people in Ireland. Recent investments include H&MV Engineering, OFS and Ethos Engineering.

The structural driver is the simultaneous surge in mobile network densification and grid electrification investment. Rising data consumption is pushing telecoms operators toward denser networks, while growth in AI, data centres and electric vehicle adoption is driving significant upgrade spend across overhead line infrastructure for power distribution networks.

KTL's dual capability, spanning mobile network build and electricity overhead line engineering, sets it apart from single-discipline contractors competing for either telecoms or utility infrastructure work. Two decades of direct relationships with operators including Vodafone, ESB Networks and UKPN underpin the technical credibility Exponent is backing.

Hanamy and the incumbent management team remain in place, with Exponent citing the leadership's reputation as central to the investment. Anthony Clegg, Partner at Exponent, said: "KTL is a fantastic business with a strong heritage across the mobile telecoms and power distribution markets, deeply skilled workforce and highly technical engineering offering." Hanamy said the transaction gives the company "additional support and resources to build on the progress we have made."

Source: exponentpe.com