Three years after taking control of the business, Keltbray has now sold it back to the founding partners, Emmet Lagan and Stephen Lagan.
Keltbray directors Vince Corrigan and Peter Burnside have left the board.
Keltbray Lagan Power will now trade as Lagan Energy Engineering, from the same locations as before.
Both companies said that they had benefited from each other’s experience and expertise across the construction and engineering sectors during their time working together.
Emmet and Stephen Lagan said: “All the employees at KLP (now Lagan Energy Engineering) are grateful for the experience shared with the Keltbray Group and we wish them every success in the future. We will continue to work with Keltbray Group where business opportunities present themselves and we look forward to maintaining valued relationships forged with esteemed colleagues over this past two years.”
A spokesperson for Keltbray said: “Keltbray fully supports the decision by Lagan Energy Engineering’s shareholders to take the business in a new strategic direction and we will work together closely with them to ensure a seamless transition. We wish Emmet and Stephen Lagan, together with the Lagan team, every success moving forward and look forward to working together on appropriate future opportunities.”