The entrepreneurial duo behind Belfast’s b4b Group, Dominic Kearns and Tommy O’Hagan, have secured a majority stake in Lisburn’s Daly Renewables (Daly), signaling ambitious plans to expand operations and create 20 new jobs within the next two years.
Kearns and O’Hagan have solidified their reputation in Northern Ireland over the past decade, spearheading a series of innovative ventures that have propelled them into the realm of some of the region’s fastest-growing businesses. Their portfolio includes notable entities such as Fibrus, Weev, b4b Group, and Viberoptix, collectively employing over 1,000 individuals.
Venturing into the renewable energy sector, Kearns and O’Hagan have established b4b Renewables, a subsidiary of their telecom service provider b4b Group, which now encompasses Daly. The newly formed entity is poised to specialize in solar generation, battery storage solutions for commercial buildings, as well as Heat Pump energy solutions tailored for hotels, factories, and retail businesses.
Ryan Daly, a director at b4b Renewables, emphasized Daly’s decade-long presence in the renewable energy sector, noting the company’s expertise in designing and implementing cutting-edge renewable solutions. With a focus on meticulous design and technical prowess, Daly ensures the highest quality outcomes for its clients.
Joining forces with b4b Group provides Daly with the resources and experience necessary to scale its operations, bolster its team, and enhance technical capabilities, propelling the company to new heights.
Belfast-based corporate finance professional Brian Loughran, who recently assumed the role of managing director at Carsena Investments, joins Kearns and O’Hagan in their latest venture, investing in the newly combined entity. Loughran emphasized the pivotal role of renewables in addressing the pressing need for energy transition and underscored the importance of significant investment in renewable solutions to achieve net-zero goals.
The acquisition marks b4b Group’s inaugural foray into the renewables space, positioning Daly as a cornerstone for rapid expansion and innovation. Leveraging Daly’s industry expertise and technological advancements, b4b Renewables aims to spearhead micro-generation initiatives through solar and heating transitions, aligning with broader efforts to enhance ESG credentials and mitigate rising energy costs.
Daly Renewables, renowned for its industry-leading services in renewable technologies, is set to witness an expansion of its service offerings and ventures into new territories under the acquisition, further solidifying its position as a frontrunner in the renewable energy sector.