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Renatus’ Weekly M&A Newsletter – 05/04/2020
April 5, 2020
Renatus backing turns up heat at CRS Mobile Cold Storage
September 22, 2020
April 16, 2020

Covid-19 Survey Highlights

Renatus conducted a short survey amongst its valued network to establish some insights into the effects and implications of Covid-19. The survey, which gathered almost 1,000 responses, ran from 12/04/2020 to 14/04/2020.

 

Over half of the respondents are either C-level or Business owners:

 

The highlights from the survey are as follows:

  • Cumulatively, over 85% of people expect that we will be fully or partially back to office-based working by the end of the July.
  • Despite expecting a partial easing of restrictions by the end of the Summer most people (70%+) don’t expect a return of mass gatherings till at least September.
  • There is a definite expectation of increased remote working post-Covid-19 with over 75% of respondents expecting increased remote working and 85% of respondents expecting to use online video solutions more.
  • Only 18% plan to travel significantly less.
  • More than half (58%) of respondents expect business performance in 2021 to either be a little or significantly worse versus their 2019 business performance.
  • Meanwhile, 28% of respondents expect 2021 performance to outpace that of 2019 while 14% are expecting performance to be similar.

The results can be reviewed in full below. 

Q1. When do you think the current restrictions will be lifted to allow a part or full return to office working?

  • June appears to be when largest portion of respondents expects to be some form of easing on the current restrictions (43%).
  • Cumulatively, over 85% of people expect that we will be fully or partially back to office-based working by the end of the July.

Q2. When do you think mass gatherings (such as pubs, concerts, race meetings) will return?

  • Despite expecting to a partial easing of restrictions by the end of the Summer most people (70%+) don’t expect a return of mass gatherings till at least September.

Q3. Do you think you’ll work more from home when normality returns?

  • There is a definite expectation of increased remote working post-Covid-19 with over 75% of respondents expecting increased remote working.
  • Of these, 2/3rds expect it to be a marginal increase in remote working while 1/3rd expect the increase to be significant.

Q4. Do you think you will use video conferencing (e.g. Google Hangouts or Zoom etc)?

  • A natural consequence of increased remote working is an increased demand for video conferencing solutions with nearly 85% of respondents expecting to use these solutions more.

Q5. Do you think you will travel less by air?

  • Nearly half expect no change in the amount they travel by air or more 45%.
  • Only 19% plan to travel significantly less.

Q6. Compared to your 2019 performance, do you expect your businesses 2021 performance to be better or worse?

  • More than half (58%) of respondents expect business performance in 2021 to either be a little or significantly worse versus their 2019 business performance.
  • Meanwhile, 28% of respondents expect 2021 performance to outpace that of 2019 while 14% are expecting performance to be similar.

Q7. What changes do you see to your work practices or business model?

  • This was an optional question of which there were 359 responses. These responses were segmented into 430 individual responses based on the themes they touched on (some responses touched on more than one).
  • 26% of responses indicated that Digital innovation is the most important consideration for businesses going forward (i.e. video conferencing, in house innovation, paperless work, online delivery systems, B2C focused integration, CRM systems).
  • Working from home will appear to be more common place in the long run, with 23% of respondents indicating that they will implementing WFH options for staff while creating more flexible working conditions across their organisation.

23% of respondents gave their opinion on their respective industries in the immediate future. To summarise:

  • Business models going forward will need to be adapted to be able to sustain significant revenue reductions in a short period of time.
  • While still deemed important, face-to-face contact/meetings will be significantly reduced.
  • Employees contracts may be altered to incorporate a force majeure clause centred around a COVID 19 like event happening again.
  • Contract/flexible staff might over take traditional full time staff.
  • Greater emphasis will be placed on cash flow management.
  • The requirement for physical or tangible work practices to be lessened greatly i.e. paperless offices, enhanced online communication, less need for support staff.

ABOUT RENATUS

Renatus was established in 2014 to provide growth funding to growing Irish SMEs and to partner with ambitious management teams to help companies reach their full potential.
Renatus targets companies with sustainable earnings of €1m+ and valuations of €5m and above. Our typical solutions include:
  • Succession Planning
  • Management Buyouts / Buy-Ins
  • Funding for organic growth
  • Acquisition Funding; and
  • Share Sales
Management Partners
Business Owners

OUR INVESTMENTS

LEARN MORE…

Renatus’ Knowledge Centre

Our Knowledge Centre is filled with insights from some of Ireland’s top business leaders on Succession Planning, Management Buyouts / Buy-Ins, Growth Financing and much more.

Visit the Knowledge Centre

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    Conor Hall, Associate

    • Conor joined Renatus Capital Partners in June 2018 as a Private Equity Associate. As part of his role, Conor researches and analyses potential investments and acquisitions.
    • Conor holds an M.Sc. in Quantitative Finance from UCD Michael Smurfit Graduate Business School and a B.Sc. in Economics & Finance from UCD. He is currently working towards attaining the ACCA and CFA qualifications.
    • Prior to joining Renatus, Conor worked as an Analytics Analyst with Accenture, specialising in predictive modelling for fraud.

    Kyle Barry, Associate

    • Kyle joined Renatus Capital Partners in June 2016 as a Private Equity Associate. As part of Kyle’s role, he researches and analyses the potential of new investments and acquisitions.
    • Since joining, Kyle has worked on numerous transactions, including Simtech and Rennicks, and has worked with Renatus’ investee companies on a number of strategic projects.
    • Kyle holds an MSc. in Quantitative Finance (University College Dublin) and a BA Finance (Maynooth University). Currently, Kyle is in the process of completing the ACCA qualification.
    • Prior to joining Renatus, Kyle spent 15 months in Intel’s Finance department where he worked across the financial reporting, tax and capital financing teams.

    Philip Gardiner, Associate Director

    • Philip is an Associate Director with Renatus Capital Partners, having first joined the firm as its first employee in 2014.
    • Philip has responsibility for screening, assessment and structuring of new acquisitions.
    • He has worked on a number of transactions at Renatus including Boojum Mexican Restaurants and Simtech Aviation. Philip works actively with the boards of Boojum and Simtech Aviation.
    • Prior to joining Renatus, Philip spent four years in AIB’s corporate banking team where he worked on a mix of real estate and cash flow lending deals.
    • Philip is a member of the ACCA and holds an MSc. in Financial Services and a Bachelor in Business Studies, both from the University of Limerick.

    Marketing and Administration Manager

    • Jane joined Renatus Capital Partners in June 2019 as a Marketing and Administration Manager. As part of Jane’s role, she writes the weekly newsletter, works on the CRM and looks after the admin and ad hoc tasks
    • Prior to joining Renatus, Jane worked as a Senior Account Manager in Mace Promotions where she worked closely with many SMEs as well as large corporations on their marketing projects

    Mark Flood, Director

    • Mark co-founded Renatus with Brendan Traynor in 2014. Prior to establishing Renatus, Mark spent seven years on the senior management team of the Racing Post in various operational and commercial roles. Before founding Renatus, Mark was Managing Director of the Racing Post’s Irish operation.
    • Prior to his career in the Racing Post, Mark was the first employee of FL Partners, an Irish based international private equity firm, where he was actively involved in over €300m worth of transactions.
    • Mark combines his financial, operational and commercial experience to bring value and energy to all partner companies.
    • Mark is a Chartered Accountant and holds a Bachelor of Commerce and Masters in Accounting from NUI Galway.

    Brendan Traynor, Director

    • Brendan is a co-founder of Renatus. Prior to establishing Renatus, he was a Director in BDO Corporate Finance specialising in M&A, MBO’s/MBI’s, debt and private equity fundraising across a diverse range of sectors and clients.
    • His career focus and passion is the Irish SME sector and his deal expertise covers sectors such as retail, manufacturing, FMCG, healthcare, avaiation, media, medical devices, food and agriculture, construction, and hotels and leisure.
    • Brendan is a Chartered Accountant and holds a Bachelor of Commerce from University College Dublin

    Joan McGrath, Advisor – HR

    • Joan has supported Renatus since 2019 on HR matters. Supporting recruitment, onboarding and people development at Renatus as well as partnering with the team on key transactions providing HR Due Diligence and strategic HR advice.
    • Joan was previously the Head of Human Resources at Davy and was a Board Director there for many years and played a key role in numerous acquisitions. During her career, she has worked in a range of industries from microelectronics manufacturing to builders merchants ensuring the people strategy is a core part of business strategy.
    • Joan has a Bachelor of Commerce degree, a Masters in Business Studies and a Diploma in Occupational Health and Safety from UCD. She is a Fellow of the Chartered Institute of Personnel and Development and has a Certificate in Governance.

    John Dwyer, Chairman

    • John joined Renatus in 2018 as a Chairman. Prior to Renatus, John spent 30 years at PwC in the UK, 20 years as a Partner, John led the UK and Global Deals business at PwC and was an executive board member of the UK firm.
    • Prior to that, John led the UK and Global Private Equity business at PwC and worked with firms including 3i Group, Apax Partners, CVC Capital Partners and Cinven.
    • John is married to Natasha and they have three children. John works between Dublin and London and his charity work includes chairmanship of Irish Youth Foundation UK.
    • He is an advisor and Board member of Irish digital marketing firm Pigsback and media firm Racing Post.
    • John is a Chartered Accountant and holds a Bachelor of Commerce from UCD.