Xenon Building Technology, a premier company in building technology solutions, has recently finalized a management buyout transaction, marking a promising new phase for the company. Dermot Ryan, previously the general manager of Xenon, has acquired the majority shareholder position from Seamus Byrne, the company’s founder. As a result, Ryan has assumed the role of Chief Operating Officer (COO), while experienced investor and IT industry expert Justin Owens joins the team as the new CEO.
With over twenty years of experience in designing, installing, and supporting advanced electronic security, life safety, and building technologies, Ryan brings a wealth of expertise to his new role. The addition of Justin Owens, who previously served as the CEO of Commtech, a prominent independent distributor specialising in IT infrastructure, networking, and security solutions, further strengthens Xenon’s management team.
In a statement regarding the buyout, Owens expressed confidence in the company’s future, stating, “We are excited for Xenon Building Technology to enter this next chapter and together see compelling opportunities to accelerate our growth trajectory and enhance customer focus.”
The company’s mission to deliver quality electrical, electronic security, and building technology solutions to the Irish market remains unchanged. Ryan emphasised Xenon’s commitment to using technology to make buildings smarter, safer, and more secure, especially in today’s rapidly evolving business landscape.
As a company headquartered in the South East, Xenon currently boasts a team of 25 employees. Looking ahead, the company aims to expand its business both organically and through strategic acquisitions, with the goal of broadening its national coverage and reaching new markets.
The completion of the management buyout signals a positive development for Xenon Building Technology, as it positions itself for growth and innovation under new leadership. The company’s dedication to providing cutting-edge solutions to its customers remains steadfast, and its focus on utilising technology to drive meaningful business outcomes is set to shape its future endeavours.
Source: TechCentral Reporters