Maynooth business provides services to semiconductor firms
Irish semi-conductor services firm WGNStar has completed its sale to tech infrastructure giant ABM in a deal understood to value the Kildare-based business at $275m (€234m).
The Maynooth-headquartered WGNStar employs around 1,300 people overall, including at its Co Kildare base. It provides workers and equipment to semiconductor firms and other high-tech companies.
The business was established originally as Westerwood Global in 1999 by Basil Holian, an Athenry native. Outside of its own sector the business may be best known for a longstanding sponsorship of Galway camogie.
Holian was still in situ as chairman of the company ahead of the sale to ABM – and according to the latest available filings in the Companies Registration Office, he owned 38.9pc of Iveagh New Opportunities, which in turn controlled the Irish business.
He’s the latest in a growing string of Irish entrepreneurs selling well-established technology business after leading them through decades of expansion – including ESW’s Tommy Kelly, Winthrop’s Barry English and E&I Engineering’s Philip O’Doherty.
In 2024, WGNStar had sales of €18.9m, up from €15.5m in 2023. Profit before tax in 2024 was €9.4m, up from €2.6m a year previously.
New York-listed ABM is a major provider of facility, engineering, and infrastructure solutions. Its president and CEO, Scott Salmirs, announced the takeover on Wednesday.
“This acquisition expands our technical capabilities in the world’s most sophisticated semiconductor fabrication environments. WGNStar’s deep expertise in cleanroom operations, production tool management, and culture of excellence make them an ideal fit as we continue to grow our technical services portfolio,” he said.
The rapid rise of AI “super-scalers” – corporations planning massive growth in data centres and associated infrastructure – is transforming the semiconductor industry, potentially throwing up new opportunities for established players in the sector.
ABM has previously cited the growth potential of WGNStar’s core services as a key point attracting it to the Irish investment, including a multi-billion-dollar addressable market in which only a small share is currently outsourced. ABM itself operates across a range of market sectors including commercial real estate, aviation and distribution. It has over $8bn in annual revenue.
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