Excelsys Technologies sold in €15.5m cash deal

Chief executive and founders of Cork-based electronics firm to be the main beneficiaries

9th July, 2017
Gary Duffy

The founders of a Cork-based electronics manufacturing company are in line for a €15 million plus payday after selling their company.

Excelsys Technologies last week agreed to a €15.5 million all-cash deal from a US firm called Advanced Energy Industries.

The biggest beneficiaries of the sale will be the chief executive of the Little Island-based Excelsys, Gary Duffy, along with brothers Frank and Seamus Devitt, who founded the company in the 1990s. A number of...

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