Both companies have said the move will "transform the renewable energy sector in Northern Ireland."
The details of the acquisition have remained undisclosed, but will bring the number of people employed directly by the Harvey Group in Northern Ireland and Britain to 110.
Newtownabbey-based Harvey Group has an annual turnover of £30m and employs over 80 staff, while Solmatix Renewables – founded by Richard and Norah-Anne Bell in 2008 – has an annual turnover of £6m, employing 30 staff at its Nutts Corner premises. Under the deal, Solmatix will continue to operate as an autonomous and independent company within Harvey Group.
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Brian Harvey, Managing Director of Harvey Group, said: "We have been planning to grow our renewables involvement for some time, either organically or through the acquisition of an established player.
"Having worked with Solmatix Renewables on a number of contracts, we had always been impressed with their engineering rigour and professionalism. In fact, there seemed to be a natural synergy between our two companies in terms of what we do and how we do it."
Richard Bell, founder and MD of Solmatix, added: "In many respects, it's a case of 'business as usual'. However, in real terms, being part of this larger organisation will give us access to enhanced technical skills, financial resources and purchasing power.
"Ultimately I believe this will lead to greater growth and investment within our operations, as well as more jobs and job security. It's a win-win relationship that's good for our whole organisation, as well as the economy of Northern Ireland."
(LM/JP)
