- Co-founders Eric Kavanagh and Joseph Dunne continue to lead OFS following the investment
- OFS’s technical teams serve customers including Mitsubishi Power, Siemens and GE Power across more than 40 countries
- Exponent has backed Irish businesses since 2012 and opened a Dublin office in 2023
Exponent has agreed to invest in OFS, an Ireland-based provider of specialist technical services for the global power generation industry. Co-founders Eric Kavanagh and Joseph Dunne will continue to lead OFS as the company works to meet rising demand from power generation, energy and data center customers worldwide.
Headquartered in Naas, Co. Kildare, with a US office in Houston, Texas, OFS has built its business over the past 20 years. Its engineers and technicians install, commission, maintain and operate industrial and aeroderivative gas turbines and related power generation equipment, often working directly for the original equipment manufacturers whose products it services. The company’s teams support customers in more than 40 countries, including Mitsubishi Power, Solar Turbines, Siemens, GE Power and Vantage.
Gas turbines support the electric grid and are increasingly used as on-site, or “behind the meter,” power sources for data centers, driven by grid constraints, connection delays and rising demand for reliable capacity, according to a press statement.
Exponent said it will partner with OFS to strengthen its commercial capabilities, invest in its people and service offering, and capture growing demand across power generation, energy and data center markets.
“Structural growth across the global power market, combined with the emergence of on-site power as a core requirement for data centers, is creating a step-change in demand for OFS’s services,” said Shane Farragher, partner at Exponent, in the statement.
Exponent has invested in Irish businesses since 2012 and opened a Dublin office in 2023. Its recent investments in the sector include H&MV Engineering, a Limerick-based provider of high-voltage electrical engineering services, and Ethos Engineering, a Dublin-based data center design firm. The deal is subject to regulatory approval and is expected to complete in the fourth quarter of 2026.
Editor’s note: This news brief was produced with the assistance of artificial intelligence.