OFS welcomes Exponent as investment partner to meet growing international power generation demand
Kildare, Ireland, 18th of August 2026
OFS, an Ireland based and Irish run provider of specialist technical services for the global power industry, today announced that it has agreed an investment partnership with Exponent, a leading European private equity firm. Co-founders Eric Kavanagh and Joseph Dunne will continue to lead OFS as it meets growing demand from power generation, energy and data centre customers around the world.
Built over 20 years, OFS deploys a global team of engineers and technicians who install, commission, maintain and operate industrial and aeroderivative gas turbines and related generation assets and equipment. Often working directly on behalf of blue-chip OEMs, OFS’ specialist teams currently support customers in more than 40 countries around the world, including Mitsubishi Power, Solar Turbines, Siemens, GE Power and Vantage, among others. The company has built long-standing relationships with major gas turbine manufacturers through a complementary service-led model that supports, rather than competes with, its partners.
Gas turbines are essential for a broad range of mission-critical applications, including supporting the electric grid, and are increasingly becoming the preferred “behind the meter” power solution for data centre’s, with adoption driven by grid constraints, connection delays and the need for reliable power supply as demand for capacity continues to rise.
OFS will partner with Exponent to accelerate growth through strengthening the business’s commercial capabilities, investing in its people and service offering, and capturing growing demand from power generation, energy and data centre customers.
Shane Farragher, Partner at Exponent, said: “We are delighted to partner with OFS, a specialist engineering business with deep OEM relationships, an exceptional technical workforce, and a reputation for reliable delivery in mission critical environments. Structural growth across the global power market, combined with the emergence of on-site power as a core requirement for data centres, is creating a step-change in demand for OFS’s services. We look forward to working alongside Eric, Joe and the team as they invest in their people and capabilities to meet this growing demand.”
David McGovern, Partner at Exponent, said: “OFS is another great example of the fact that Ireland continues to produce world-class businesses in this broad sector with the expertise and ambition to succeed internationally. The company has built an impressive global reputation from its base in Kildare, underpinned by the vision and leadership of Eric, Joe and the wider management team. We are committed to investing in Irish businesses of this caliber and promise, and we are delighted to partner with OFS as it continues to grow globally.”
For OFS, the partnership marks the beginning of a new phase of international growth. The transaction also underscores Exponent’s commitment to investing in the Irish market and partnering with ambitious founder-led businesses to accelerate their growth. Exponent has been investing in Irish-based businesses since 2012, further supported by the opening of its Dublin office in 2023. The investment in OFS serves as another example of Exponent’s long-standing focus on differentiated, market-leading businesses in the infrastructure and industrial services sector, with recent investments including H&MV Engineering, Ethos Engineering and Optimas International.
About OFS
Founded in 2002 by Eric Kavanagh and Joe Dunne, OFS has grown from a specialist engineering services provider into a global organisation supporting critical infrastructure projects across more than 90 countries. Headquartered in Naas, Co. Kildare, Ireland, with strategic operating bases in Ireland, the UK, USA, UAE and Singapore, OFS has built a reputation for delivering highly skilled personnel, technical expertise and project execution support across the full lifecycle of complex energy and industrial assets. Today, the company employs more than 200 permanent staff, supported by a global network of contractors and partners, providing clients with access to experienced engineers, operators, project teams and reliability specialists.
OFS specialises in Gas Turbines, Rotating Equipment and Data Centre energy infrastructure, delivering services that include installation, commissioning, operations and maintenance, technical support, reliability engineering and asset lifecycle management.
OFS would like to thank all those who supported them in the transaction – notably James McMenamin and his team from PwC, Ross Little and his team from Byrne Wallace Shield and Chris Magil & John Byrne of CROWE.
About Exponent
Exponent is a European private equity firm that partners with ambitious management teams to accelerate the growth of established mid-market businesses. Primarily investing in family- and founder-led companies and corporate carve-outs, Exponent combines capital with sector expertise, operational insight and an extensive industrialist network to help businesses realise their full potential.
From its offices in London and Dublin, Exponent works collaboratively with management teams to unlock new growth opportunities, enhance operational performance and create long-term value.
Exponent opened its Dublin office in 2023 and has been investing in Irish-based and owned businesses for over a decade. Since its inception in 2004, Exponent has raised five funds and invested in over 40 businesses across Ireland, the UK and Benelux.
To learn more, visit www.exponentpe.com