Jabil to pay $750M for energy management company

Jabil Inc., the St. Petersburg technology titan, has agreed to buy a Northern Virginia energy company that services data centers.

In a note to investors Tuesday, Jabil says it agreed to pay $750 million for Hanley Energy Group in an all-cash transaction.

The deal also includes a “contingent consideration up to $58 million, subject to achieving future revenue thresholds.”

The purchase is subject regulatory approval and expected to close early next year.

Hanley Energy, which has its European headquarters in Ireland, says on its website that it designs, develops, supplies, installs and commissions critical power and energy management solutions.

Jabil tells investors in the note that Hanley is an expert in power systems and energy optimization and will add to Jabil’s existing power management solutions for data centers.

Its expertise in “turnkey mission-critical power solutions from the grid all the way to the hyperscale data center complements Jabil’s growing capabilities in AI data center infrastructure,” Ed Bailey, Jabil senior vice president and chief technology officer for intelligent infrastructure, says in a statement.

Hanely’s first-year revenue is projected to reach $350 million to $400 million, supported by mid-to-high-teens EBITDA margins and sustained double-digit revenue growth, says Jabil.

The St. Petersburg company’s net revenue increased 18.4% to $8.25 billion in the third quarter, according to its most recent earnings report released in September.

For Fiscal Year 2025, net revenue was up 3.1% to $29.8 billion, according to the earnings report.