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Renatus’ Weekly M&A Newsletter – 25/09/2022
September 25, 2022
Renatus’ Weekly M&A Newsletter – 09/10/2022
October 9, 2022
October 2, 2022

DCC acquires PVO International, Kingswood acquires a majority stake in Moloney Investments & much more in our latest weekly Renatus M&A newsletter..

Renatus Private Equity Dublin, Ireland

Renatus Weekly M&A & Company Performance Private Equity Newsletter 02/10/2022

Dear Reader,

Please find below this week’s newsletter covering the latest M&A, company performance, fundraisings and executive moves.

THOUGHT OF THE WEEK

Goffs in Kildare has been the venue for our successful Real Deal conferences in the past which we hope to resume in Spring ‘23 with Fitzgerald Power and our various partners.

Goffs primary business is not events but the sale of Bloodstock and this week it held its premier sale of unraced one-year-old horses (The Orby sale) who should make their debut next year as two-year-olds in the racetrack if it goes to plan.

€50 million was spent over two days on these unraced animals. An average of €121k per horse which was 11% up on last year which was another strong year.

The economic storms are clearly already hitting parts of the economy and spreading fast. The equivalent of flood prevention measures have been put in place by many governments.  With buyers in Goffs standing at the very top of the socio-economic pyramid and seemingly unaffected by the current market conditions, it may be that the current storm differs from recent recessions, where everybody was affected across the board.

M&A ACTIVITY

DCC acquires PVO International

DCC to acquire Azenn

Deal Details: DCC plc has acquired PVO International. Deal details have not been disclosed and is subject to competition authority approval in the Netherlands, Germany, Austria and Poland.

DCC plc is an international sales, marketing, and support services group, based in Dublin. It operates through three divisions: Energy, Healthcare and Technology. DCC was founded by Jim Flavin in 1976 and was listed on the Dublin and London stock exchange in 1994. The group is led by CEO Donal Murphy. In FY22 the business reported turnover of €21.0bn, which converted to an EBITDA of €885.5m.

PVO International is a Netherlands-based distributor of solar panels, inverters, batteries and accessories. The company was founded in 2014 by Frank Heijckmann and currently employs c. 50 people. The business is reported to have had revenues of c. €190m in the most recent financial year.

Advisers: None mentioned

Renatus Comment: DCC is positioned in 3 high growth sectors and has completed a number of bolt-on acquisitions over the last number of years. This acquisition is part of DCC’s strategy to transition from generating about 71% of its profits from its LPG, retail and oil divisions to one where up to 75% of earnings will come from healthcare, technology, clean energy and renewable activities by 2030.

Growth is very strong within the solar panel industry globally, with governments offering grants and introducing renewable energy initiatives. The 2023 local budget includes plans to install solar panels in every school in the country and a €337m allocation towards grants for energy efficiency, with similar initiatives being seen in every jurisdiction.

Source: The Irish Times

Kingswood acquires majority stake in Moloney Investments

Moloney Investments Limited

Deal Details: Kingswood Holdings Limited has acquired a 70% stake in Moloney Investments Limited, in a deal reported to be worth €25.8m.

Moloney Investments Ltd, trading as MMPI Group, is a Dublin-based financial advisory group that provides financial planning, general and protection insurance, as well as investments, pensions, and mortgage advice. The business was founded in 1993 by CEO Bryan Moloney and currently employs 54 people, including 18 advisors. Michael Ryan is the business’ Chairman. The business does not report turnover or EBITDA information. The owners included Bryan Moloney, Thomas Horkan, David Swaine, Gerard Lawlor and Peter Hanrahan.

Kingswood is an AIM-listed international fully integrated wealth management group that advises and manages assets for a range of clients. The business is headquartered in Bury, UK. It was founded in 2010 and has been publicly listed since 2014. David Lawrence leads the business as Chief Executive. The business reported FY21 revenue of c. £145m.

Advisers: None mentioned

Renatus Comment: Kingswood has been an active consolidator in the UK wealth management market having completed four UK-based acquisitions in 2021 and seven UK-based acquisitions so far in 2022. This is the group’s first move into the Irish market and creates the opportunity to cross-sell products and consolidate platforms.

In a similar development, just last week UK-based Fairstone acquired PAX Financial, also marking the business’s first step into the Irish market. Other significant recent developments in the Irish wealth management space include Bank of Ireland’s acquisition of Davy and AIB’s acquisition of Goodbody.

Outside of the top 4/5 large players, this market is highly fragmented and we expected to see further consolidation as scale is key due to increasing compliance costs and competition in the market.

Source: London Stock Exchange

Procure Wizard Ireland acquired by Access Group

ACCESS HOSPITALITY

Deal Details: Procure Wizard Ireland has been acquired by the Access Group. Deal consideration has not been disclosed.

Procure Wizard Ireland, trading as Access Hospitality Ireland, is a reseller of the procurement solution Procure Wizard, which the Access Group acquired in 2018. The software streamlines the procurement process, reduces indirect spend and automates invoice processing. Procure Wizard Ireland was founded by David Noone in 2015. It is owned by David Noone, Tom Doherty and Michelle Muldowney. The business does not report turnover or EBITDA information.

The Access Group is a UK-based software solutions provider for the hospitality and leisure sector offering software to simplify processes, streamline operations and improve both profitability and the guest experience.  It is headquartered in Loughborough, United Kingdom. In FY21 the business had turnover of c. £388.8m, which converted to an EBITDA of c. £144.3m.

Advisers:
The Access Group:
Legal: ReganWall led by Kieran Regan and Neil Nolan.
Tax: PwC

Procure Wizard Ireland:
None mentioned

Renatus Comment: Procure Wizard Ireland is a reseller of procurement solution Procure Wizard, which was acquired by the Access Group in 2018. Access Group received follow-on investment from existing shareholders in June, which valued the company at £9.2bn. Having completed three acquisitions in the UK and one in Australia in 2022, this acquisition will see the Access Group double-down on its efforts in Ireland, taking Procure Wizard activities in-house, giving it greater control over the Irish operation.

Source: Access Group Press Release

RBC Wealth Management acquires Brewin Dolphin Holdings PLC

rewin Dolphin Holdings PLC

Deal Details: Brewin Dolphin Holdings PLC has been acquired by the wealth management arm of Royal Bank of Canada for a deal consideration of c.$2.4bn. The deal was originally announced in March and has now receivced shareholder and competition authority approval.

Brewin Dolphin is one of the leading wealth managers in Ireland and the UK. It is headquartered in London and is led by CEO Robin Beer. In FY21 the business reported turnover of c. £405.9m which converted to EBITDA of c. £92.5m.

Royal Bank of Canada is a Canadian multinational financial services provider. David Thomas is the Chief Executive of its international wealth business.  Brewin Dolphin will now operate as RBC Brewin Dolphin with c. £58bn AUM.

Advisers: None mentioned

Renatus Comment: Having acquired the wealth management arm of Investec in 2019 for €44m, Brewin Dolphin was a top-four player in the Irish wealth management industry along with Davy, Goodbody, and Cantor Fitzgerald.

This deal represents a windfall for its 2,000 employees who owned  (a share of) 4.13% of the company’s shares.

It is a significant investment for RBC, which will join the race to capture market share across the UK and Ireland as the wealth management industry continues to consolidate.

Source: RBC Press Release 

Talbot Group acquired by DIF Capital Partners

Talbot Group

Deal Details: Talbot Group is to be acquired by DIF Capital Partners. Deal consideration has not been disclosed and the acquisition is subject to approval by the CCPC.

Talbot Group provides services for children and adults with intellectual disabilities. The business is based in Meath and has residential properties located through Dublin, Meath, Louth, and Cavan. As well as day services, the business offers residential respite services for adults. The business did not report turnover or EBITDA information. Talbot Group was founded by brothers Dr. Tony Woods and Michael Woods, and is today run by CEO Laverne McGuinness. In 2020, the business was acquired by a Belgian investment vehicle, Care4Invest.

DIF is a global investment manager based in the Netherlands. It manages c. €11bn in assets.

Advisers: None mentioned

Renatus Comment: After this year’s budget was announced, The National Federation of Voluntary Service Providers had much to say regarding the funding designated to services and supports to people with disabilities. The Disability Capacity Review to 2032 published last year identified €80m-€350m of new supports required from 2022 onwards, with the figure expected to rise in future years. The National Federation of Voluntary Bodies expressed disappointment with the figure of €29m announced to strengthen disability services this week.

Source: CCPC

Fisher & Fisher acquires Colman R Hanna Solicitors

Deal Details: Fisher & Fisher legal practice has acquired Colman R Hanna Solicitors. Deal details have not been disclosed.

Fisher & Fisher is a Newry-based legal practice that has six locations across the Kingdom. It specialises in the areas of crime, property, estates & wills, litigation, family and business & corporate. The business was founded in 1898 and is led by Ronan Mcguigan and Jacqueline Malone, both of whom have joint ownership of the business. It does not report turnover or EBITDA information.

Colman R Hanna Solicitors is a Newcastle-based solicitors. The business was founded by Aidan Hanna and currently employs 9 people. All 9 employees will be retained following the acquisition and will expand Fisher & Fishers current presence in Newcastle. The business does not report turnover or EBITDA information and was owned by Gerard O’Hagan, Thomas Mitchell, Anthony Kane, Timothy Hanna and Sean Boden.

Advisers: None mentioned

Renatus Comment: Consolidation within the legal and accountancy sectors has been a key theme in recent months. Much of this consolidation has been focused on the larger end of the market, with deals involving key players such as Eversheds Sutherland, Addleshaw Goddard and Clark Hill. However, the rationale for consolidation among smaller players is just as strong, with merged practices providing these firms with greater bandwidth to remain competitive in an increasingly competitive professional services landscape.

The surge in M&A in professional services has been previously discussed by Conor Mehigan of Renatus in a recent Business Plus article.

Source: Irish News

Galium Limited acquired by Transcat

COMPLETE CALIBRATIONS

Deal Details: Galium Limited, t/a Complete Calibrations, has been acquired by Transcat Inc. in a deal worth c. $1.2m.

Complete Calibrations is an ISO 17025 accredited company specialising in calibrating and supplying temperature measuring equipment for the food industry and test weights to the pharmaceutical industry. The business was founded by Darren O’Sullivan in Cork in 2006. The business does not publish turnover or EBITDA information.

Transcat, Inc. is a leading provider of accredited calibration, reliability, maintenance optimisation, quality and compliance, validation, computerised maintenance management system (CMMS), and pipette services particularly in the life sciences industry. It was founded by William Berk in 1964 and is headquartered in New York. In FY22 the business had a turnover of c. €176.3m, which converted to an EBITDA of c. €21.2m.

Advisers: None mentioned

Renatus Comment: Transcat Inc has been an active acquirer in recent years announcing the acquisition of e2b Calibration on the same day as Complete Collaborations. The majority of Transcat’s acquisitions have been US-based, however, in September 2021 it acquired NEXA (formerly Cal Opex). Similar to Complete Collaborations, NEXA is headquartered in Cork and provides calibration and other technical services to pharmaceutical, industrial manufacturing, energy and chemical process industries. Although this is a relatively small acquisition for Transcat, it is likely that the rationale behind the deal is to expand Irish presence through an ISO 17025 accredited calibration lab, which will further stand to Transcat’s own ISO 17025 accreditation.

Source: Capital IQ

DEALS IN THE MAKING

Bacardi to acquire Teeling

Deal Details: Bacardi is to acquire a controlling stake in Teeling.

Teeling is an Irish whiskey brand which has been in operation since 1782. Jack and Stephen Teeling established its own whiskey distillery in Dublin in 2015. Bacardi already owns a large stake in the business, with Jack and Stephen Teeling controlling c. 46% of shares between them. The business had FY20 turnover of €14.6m, which converted to an EBITDA of €8.8m.

Bacardi is one of the world’s largest spirit companies in the world, with brands including Bacardi, Grey Goose, Patron and Teeling. The business does not report turnover or EBITDA information.

Source: Business Post

DEAL UPDATES & OTHER NEWS

Linnaeus Veterinary’s to acquire Blackhall Facilities Management

Deal Details: Linnaeus Veterinary has submitted a second application to the CCPC for approval of its acquisition of Blackhall Facilities Management, having withdrawn its original application in June.

Blackhall was founded by Karl Cosgrave and operates 15 veterinary clinics throughout Meath, Dublin, and Wicklow. The business employed 118 staff throughout FY20. The business is today led by Charles and Julianne Cosgrave, the children of founder Karl Cosgrave.

Linnaeus, the Mars subsidiary involved in this transaction, is a group of veterinary practices operating across the UK and Ireland. Linnaeus Veterinary has acquired five family-run veterinary practices throughout Dublin and Kildare. This deal will bring the total Irish veterinary clinics under Linnaeus’s control to 20, making it a market leader.

Source: CCPC

The proposed merger between Tullow Oil and Capricorn Energy has collapsed

Deal Details: A merger between Tullow Oil and Capricorn Energy that was proposed in June has now collapsed after shareholders turned on the original deal. Capricorn Energy has proposed a new merger with NewMed Energy.

Founded in Tullow in 1985, Tullow Oil plc is a multinational oil and gas exploration company, with its headquarters in London, United Kingdom. The company is exclusively listed on the London Stock Exchange following its withdrawal from Euronext Dublin earlier this month. In FY21 the business recorded revenue of £1.0bn, which converted to an EBITDA of c. £759.9m.

Founded in 1980, Capricorn Energy plc is a British oil and gas exploration and development company and is also listed on the London Stock Exchange. In FY21 the business had revenue of c. £43.2m.

Tullow Oil’s shares fell c. 5.5% following the announcement and Capricorn Energy’s shares increased c. 8.9%.

Source: Irish Independent 

Egon Zehnder opens new Dublin office

Deal Details: Egon Zehnder, the leadership advisory firm, has opened a new office in Dublin.

Egon Zehnder partners with a range of businesses to provide services such as executive search, leadership solutions, CEO search and succession and board advisory. The Dublin office will be led by Andrew Roscoe, supported by Karl Croke, Fintan McGovern and Aine Flanagan.

Source: Egon Zehnder Press Release

COMPANY PERFORMANCE

Flynns of Lackagh Limited is a family-owned Topline Hardware Store, Agricultural Merchants and Super Valu Supermarket. The business was established in 1842 in Lackagh, Co. Galway and is owned by Julien and Emma Flynn.

In its financial year to December 2021, Flynns of Lackagh Limited reported a turnover of c. €22.2m, an increase of 2.1% year-on-year. This converted to an EBITDA of c. €1.1m, an increase of 4.5% year-on-year. Administrative expenses decreased by 2.4% year-on-year despite a rise in revenues which helped EBITDA growth.

The business finished the year with a cash balance of c.€1.1m, a c. €0.2m increase on FY20. Significant post-EBITDA cash movements included a new loan of c. €966k and a working capital investment of €740k.

The business employed an average of 99 people over the year at an annual cost of c. €2.1m.

Creative Composites Limited is a composites manufacturer, with its operations consisting of compression moulding, resin transfer moulding, hand lay-up moulding and CNC trimming. The business is based in Lisburn, Co. Antrim and majority owned by Richard and Vina Maud Ennis.

In its financial year to December 2021, Creative Composites generated turnover of c. £14.5m, which converted to an EBITDA of c. £1.1m. This represented an 18.5% rise in turnover and a c. £922k rise in EBITDA year-on-year. The business’ improved EBITDA is largely due to its increased revenue figure in tandem with realisng operating leverage, with administrative expenses falling by 18% year-on-year.

The business finished the year with a cash balance of c. £4.5m, an increase of c. £1.1m year-on-year. Significant post-EBITDA cash movements included a c. £1.3m investment in working capital along with a loan repayment of c. £825k.

Creative Composites employed an average of 164 people over the year at an annual cost of c. £5.4m.

RECENT FUNDRAISINGS

Who: VRAI, an Irish-based company that have combined Virtual Reality (VR) and Artificial Intelligence (AI) to provide enterprise and public service organisations with a scalable, remote training solution.

What: The business has raised €3.4m in a funding round led by Northstar Ventures, an English-based venture capital company.

Why: The funding will be used to assist with the businesses move to bring its technology to the offshore wind industry and will also allow the firm to hire an additional 10 staff across its Irish and UK offices over the next 12 months.

Source: The Irish Times 

Who: Yonder, a health and pension benefits platform that allows employees to own their policies and take it with them if they leave.

What: The business has raised $2.6m in a pre-seed funding round led by Northzone and Frontline Ventures with Coca-Cola, Broadstone, Uncommon Projects and angel investors also participating.

Why: The funds will be utilised to grow the technical and product teams and accelerate product development.

Source: Yonder Press Release

Who: Rock Extraction, a Lisburn-based engineering business that develops cleantech solutions for the use of explosives in mines.

What: The business has raised £500,000 in a funding round led by angel investors through the Halo Business Angel Network and a joint initiative of Enterprise Ireland, InterTrade Ireland and Invest Northern Ireland.

Why: The funding will be used to further develop its Volt 100k rock breaking tool and bring the product to the UK market in January. It also plans to target the African, Middle Eastern and American markets.

Source: The Irish Times 

Who: Open for Vintage, a second-hand designer goods e-commerce platform that sells items including jewellery, handbags, clothes and watches.

What: The business has raised €1.25m in a round of funding that includes David Geraghty, a former Facebook Ireland board member and Voxpro founders Dan and Linda Kiely.

Why: This funding is part of a planned €10m raise and will be used to expand the business.

Source: Business Post

EXECUTIVE AND BOARD APPOINTMENTS

We in Renatus believe that more important than the deals are the people and we are pleased to provide you with details of key recent executive and board-level appointments.


Jim Mulqueen

Source:
(Google Images & LinkedIn)


Kevin Nolan

Source:
(Google Images & LinkedIn)


Imelda Hurley

Source:
(Google Images & LinkedIn)


Colin Kelly

Source:
(Google Images & LinkedIn)

Sarah O’Toole

SARAH O'TOOLE
Source:
(Google Images & LinkedIn)


Donal Boylan

Source:
(Google Images & LinkedIn)


Brian Murphy

Source:
(Google Images & LinkedIn)


Tom Hickey

Source:
(Google Images & LinkedIn)


Michael Moriarty

Source:
(Google Images & LinkedIn)

@RenatusCapital Tweets

70.6

The Bank of Ireland Economic Pulse index for September 2022, which measures Irish consumer and business confidence. This is down 1.8 from August 2022 and down 17.6 from September 2021. According to @bankofireland

15,500

The number of Irish homes available to buy on September 1st 2022, a year-on-year increase of 22%. The average listed price in Q3 2022 was €311,514 which is almost no change from Q2 2022. According to @daftmedia

£1:$1.035

The sterling dollar exchange rate as of Monday this week. Sterling fell to the lowest level on record, losing almost 4.7%. The currency has since stabilised to some extent and currently stands at £1:$1.11. @IrishTimesBiz

€3,200

The threshold for the higher rate of income tax has been increased by €3,200 to €40,000 per annum. The government also announced a €75 increase in main tax credits. A single person on minimum wage will be €1,225 better off per annum. @RTEbusiness

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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 typically in the range of €5m – €20m. Our typical solutions include:

  • Succession planning
  • Management buyouts
  • Management buy-ins
  • Growth financing – both organic and acquisition growth financing
  • Full and partial share sale.
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    Adrian Stackpoole, Digital Marketing Associate

    • Adrian joined Renatus in 2018, initially as a Marketing Executive before moving into the role of Digital Marketing Associate. As part of his role, Adrian manages all the digital marketing aspects of Renatus as well as conducting digital research for portfolio companies.
    • Adrian holds with a BBS degree in Marketing and Entrepreneurship from the University of Limerick, as well as a Postgraduate degree from The Digital Marketing Institute.
    • Prior to joining Renatus, Adrian worked in New York with a start-up hospitality group, specalising in marketing and operations.
    TIERNAN O’HAGAN

    Tiernan O’Hagan, Associate

    • Tiernan recently joined Renatus Capital Partners as a Private Equity Associate. As part of his role, he researches and analyses the potential of new investments and acquisitions
    • Tiernan graduated with a B.Sc in business and law from DIT Aungier street & an MSc. in Entrepreneurship from Trinity College Dublin.
    • Previously worked with Capnua Corporate Finance for three months during a summer internship.
    • Tiernan is also in the process of sitting ACCA exams.
    Bronagh Kearns Renatus

    Bronagh Kearns, Associate

      • Bronagh recently joined Renatus as a Private Equity Associate. As part of her role, she will be researching and executing investment opportunities.
      • Bronagh holds a MSc in Quantitative Finance from UCD Michael Smurfit Business School and a BSc in Finance from University College Cork. Currently, Bronagh is in the process of obtaining the ACCA qualification.
      • Prior to joining Renatus, Bronagh worked as an Investment Banking Analyst in Rubicon Capital Advisors where she worked on M&A transactions on the execution side and financial modelling in the infrastructure sector. She also worked as an Investment Associate in River and Mercantile Solutions in London quantitatively screening different investment opportunities across all asset classes.
    Alan Manning Renatus

    Alan Manning, Associate

    • Alan joined Renatus Capital Partners in September 2021 as a Private Equity Associate. As part of his role, Alan researches and analyses potential investments and acquisitions.
    • Alan holds a B.Sc Finance from University College Cork.
    • Previously working in KPMG’s Consulting division, with the Financial Management Consulting team. During his time there he was engaged on a Finance Function Review for a European Travel Technology firm, and a review of the cash management strategy of an Irish Commercial Bank.
    • In the process of sitting ACCA exams.

    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.

    Jane Martin, 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

    Conor Mehigan, Associate Director

    • Conor joined Renatus Capital Partners in 2021 as an Associate Director. Conor has responsibility for screening, assessment and structuring of new investments and acquisitions.
    • Prior to joining Renatus, Conor spent five years in IBI Corporate Finance specialising in M&A, debt and private equity fundraising for private and public companies across a range of sectors. Prior to his career in IBI Corporate Finance, Conor spent four years in Deloitte’s Corporate Finance Division, specialising in Transaction Services
    • Conor is a Chartered Accountant and holds a BSc in Finance from University College Cork

    Greg Dilger, Strategic Advisor

    • Greg Dilger is a former Executive Director of NCB Stockbrokers and Investec Wealth & Investment.
    • He is an investor and advisor to Renatus and brings years of relevant experience to our team.
    • Greg is also currently a Non-Executive Director of Brewin Dolphin Ireland.
    Patrick Dooley Renatus

    Patrick Dooley, Associate Director

    • Patrick joined Renatus in November 2022 as an Associate Director. Patrick has responsibility for screening, assessment and structuring of new investments and acquisitions.
    • Patrick previously held leading positions in Focus Capital Partners, PKF O’​Connor, Leddy & Holmes & EY.
    • Patrick is a charted accountant and holds a Bachelor of Accounting and Finance degree from DCU, along with a Masters degree in Accounting from TUD.

    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.