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Irish Engineering Firm TES Group Acquired by France's Legrand Amid AI Boom
TES Group Acquired by Legrand, Benefiting from AI Boom
Irish engineering firm TES Group has been acquired by Legrand, a major French industrial business. This acquisition comes amid a surge in demand for equipment crucial to the artificial intelligence (AI) sector. While the terms of the deal were not disclosed, the price is likely to have exceeded £100 million. Foresight, a private equity firm that backed TES two years ago, reported a fourfold return on its initial investment.
Expertise in Data Center Power Systems Drives Deal
The deal was driven by TES's expertise in designing and manufacturing power systems for data centers. Data centers are facilities housing computer servers central to AI operations, requiring a massive, uninterrupted power supply for both server function and sophisticated cooling systems. Companies like Microsoft and Google are investing billions in such centers to compete in developing the fastest and most useful AI services. Morgan Stanley estimated that as much as $3 trillion will be spent on data centers to support AI between 2025 and 2029, fueling growth for specialist firms like TES that provide critical power infrastructure for data center developers.
*Source: BBC (2026-04-08)*
