Ethos agrees partnership with Exponent

20 Mar 24
●        We will create 250 new jobs on foot of significant investment
●        This development will enable us to expand its range of services and accelerate its growth plans
●      We will continue to be led by the current successful management team
Today, we have agreed a new partnership with leading European private equity firm Exponent.
The partnership will see Exponent make a significant investment in Ethos, which will allow Ethos to accelerate its current growth plans and expand the range of services it provides to clients while developing its people, technology, and capabilities even further. As part of this, Ethos plans to create 250 new roles over the next five years.      
The commercial terms of the transaction have not been disclosed. Ethos will continue to be led by its existing management team who will execute the company’s strategy, which has delivered substantial growth in recent years.
Ethos is a European leader in mechanical and electrical engineering and sustainable building design. With its HQ in Dublin, the company provides design services and design management to the EMEA data centre market, supporting global hyperscale and colocation data centre providers. It also supports clients operating in other sectors, helping them to deliver sustainable, energy-efficient projects in areas including smart buildings.
Founded in 2005, Ethos now operates across 19 different countries. The Exponent investment will help the firm to explore opportunities in additional sectors and geographies.
Ethos Engineering chief executive Greg Hayden said: “Today’s announcement with Exponent is a landmark moment for Ethos. We’re a technologically progressive, ambitious business with a keen emphasis on sustainability. Demand for data is continuing to grow and it is vital that data centre owners deliver their services in a way that is sustainable and energy efficient. That’s where Ethos excels, as a trusted partner to our clients. We look forward to expanding our capabilities on foot of this investment from Exponent. Their track record of working with growing businesses makes them the perfect fit for us. I’d like to pay tribute to our incredible employees who deliver award-winning work, our much-valued clients, industry partners and supporters including Enterprise Ireland who have made us the business we are in 2024.”              
Anthony Clegg from Exponent, said: “Increasing digitalisation of the global economy, particularly in areas such as artificial intelligence and cloud services, will continue to drive demand for data centres around the world. We are excited by the opportunities this creates for Ethos, as a trusted design partner to some of the leading global data centre players, to deliver sustainable design services on an increasingly international stage.”
John Moore from Exponent, added: “We are delighted that Greg and his team have chosen Exponent as their partner for the company’s next phase. They have built a great business with a strong culture and real technical expertise, addressing exciting end markets. We look forward to working closely with them in the years ahead.”                                                                                                                                                       
Ethos was advised on the transaction by Capnua Corporate Finance and Beauchamps. Exponent was advised by Alantra, KPMG, LEK and A&L Goodbody.

About Ethos Engineering
Dublin-based Ethos Engineering provides electrical and mechanical designs for sustainable buildings. Founded in Ireland in 2005, Ethos has developed into an EMEA leader in the design of leading-edge data centres, with projects in over 19 countries. Its continuous investment in its people and systems has helped the firm to grow strongly in recent years, with a previously announced 2025 growth plan already surpassed.  Ethos is valued by its clients for its deep technical expertise, strong talent pool, can-do attitude and culture of innovation. Its clients include many of the global blue-chip brands in cloud services, social media, online retail and datacentre development.

About Exponent
Established in 2004 with a presence in London, Dublin and Amsterdam, Exponent is a leading private equity firm. The Firm invests in mid-market companies headquartered across Europe (UK, Ireland, Benelux and Nordics). Exponent has a distinctive approach, central to which is identifying the potential in corporate, family or founder owned businesses; specialising within sectors; and integrating industrialists into its investment process. A “good to growth” strategy – investing in business capabilities to deliver revenue-driven profit growth for its portfolio.
Exponent has raised more than €3 billion to date. A selection of Exponent’s current and past investments include market leading businesses such as Trainline, Moonpig, Ambassador Theatre Group, Big Bus, Dennis (publisher of ‘The Week’ magazine), SHL, Isio (formerly KPMG Pension Advisory), Loch Lomond, and Quorn Foods.
Exponent has been investing in Irish-based and owned businesses for over ten years. The Firm acquired Fintrax in 2012 (now known as Planet), the Racing Post in 2016, Enva in 2017, H&MV Engineering and Xeinadin in 2022, and most recently, in 2024, Chanelle Pharma.