In our latest newsletter, we have a new Renatus Podcast episode with Brian O'Sullivan of Zeus, along with covering deals such as CRH to sell Oldcastle BuildingEnvelop, Mergon acquires Weltonhurst and more.
Renatus Weekly M&A & Company Performance Private Equity Newsletter 06/03/2022
Please find below this week’s newsletter covering the latest M&A, company performance, fundraisings and executive moves.
THE RENATUS PODCAST
Renatus are delighted to announce Brian O’Sullivan of Zeus Packaging as our fifth podcast guest. Brian and Zeus have flown under the radar the past couple of years, until recently with Brian deservedly winning the EY Entrepreneur of the year in 2021.
We in Renatus have been truly inspired by Brian’s story having known him a number of years.
Under Brian’s resilient leadership, Zeus has become a global packaging force with a turnover of €350 million and a staff of nearly 700 people in 26 countries. Brian prefers to identify as a hard worker rather than an entrepreneur. However, listening to Brian speak so passionately about his business, along with his ambitious future growth plans, and how he got from a qualified teacher with an idea to here, if he is not an entrepreneur the word should be taken out of the dictionary.
Below are some key takeaways from our chat with Brian;
Ukraine was the star in Zeus’ Eastern European portfolio with four sites and 62 staff. The business is trying its best to support staff in what is a very upsetting situation for the people of Ukraine but can’t call the outcome. Zeus has stock and debtors cash locked up in the country. Brian stresses repeatedly that the business outcome is incidental to the human suffering.
No customer is over 2% of the business. Zeus has no dependency on any one sector, geography, or customer.
100% privately owned.
Same determination, drive, and resilience from when he started, even more today. Brian wants to take the business to half a billion turnover, which will make it a global leader in packaging. There’s a distinct plan to make that happen within the next three years.
Brain goes to meetings and often sees everyone talking and no one listening. For customer client relationship you must understand what the customer wants, have no preconceived notions going into meetings and keep an open mind. He emphasises that sales are about listening more than talking.
Since year one the business has never lost any money, they didn’t miss one payment and despite some difficult years in the beginning and post the global financial crash he met all his repayments.
There was no eureka moment or grand plan, but Brian had a plan every week, every month and yearly.
Brian doesn’t believe in luck and believes you control your own destiny.
Key learning from first acquisition: If you have one operation and it’s running well, when that becomes two, even in the same country, you must be really careful. Systems must be put in place, and you have to accept slightly lower standards in order to scale.
Referring to business culture new senior leadership teams need to keep the soul of Zeus intact. If that can be kept, Zeus can keep growing. The business is built on culture of customer service and excellence. He admits that he is the driver of growth, and he could be the blocker of growth also and getting that right is the plight of all ambitious entrepreneurs, but Brian seems more self-aware than most and his results suggest he is doing much more right than wrong.
Huge focus on sustainability from the start and even more so now. Zeus has been selling sustainable packaging for 15 years and states that if a business is not sustainable and continuously innovating, it will not last. Zeus are involved in the Lean & Green European initiative.
Details: Dublin-based building material business, CRH, have announced the sale of Oldcastle BuildingEnvelope to KPS Capital Partners, an American private equity business. The deal consideration is reported to be $3.45bn in cash along with a transfer of lease liabilities of $350m. The deal is not yet completed and is subject to approval.
CRH plc is a leading building materials business, employing approximately 77,400 people at around 3,200 operating locations in 28 countries. It is the largest building materials business in North America and Europe. CRH manufactures and supplies a range of integrated building materials, products, and innovative solutions CRH is a constituent member of the FTSE 100 Index, the EURO STOXX 50 Index, the ISEQ 20, and the Dow Jones Sustainability Index (DJSI) Europe.
Oldcastle BuildingEnvelope was founded in 1987 in the US and is a subsidiary of CRH plc. The business provides architectural glass, storefront systems, architectural glazing systems, and related hardware to customers primarily in North America. Oldcastle employs over 7,000 people and operates in six countries. In FY20 the business generated a reported EBITDA of c. $337m.
KPS is a global private equity based in New York, USA. The business was founded in 1991 and specialises in investment in the industrial and manufacturing industry. The business has over $13bn in assets under management and had 9 active investments prior to this latest acquisition.
Advisers: KPS: Financial: Citi acted as financial advisor Legal: Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to KPS and its affiliates.
CRH: Financial: BofA Securities and J.P. Morgan Securities LLC acted as financial advisors to CRH plc.
Renatus Comment: The impact of this acquisition for CRH was overshadowed this week by the business’s exposure to the situation in Ukraine. CRH, along with Ryanair, were among the hardest hit Irish companies in the stock market over the past few days. CRH has large operations in Ukraine, Russia, and Poland. As a result, the business’s stock price dropped to €3.23 last week, its lowest price since March 2021. The stock price rebounded slightly following the announcement of this acquisition but has dipped again and remained low, currently sitting at £3.004.
Source: CRH Press Release
Mergon acquires Weltonhurst Limited
Deal Details: Westmeath-based plastic manufacturer, Mergon, has announced the acquisition of UK-based supplier of blow moulded components, Weltonhurst Limited. The deal consideration was not disclosed.
Mergon was founded by CEO Pat Beirne in 1981. The business designs, develops and manufactures assemblies and components for automotive components, medical devices, industrial products and more. The business has operations in Ireland, South Carolina, the Czech Republic and China. Mergon reported revenue of over €40m in FY20 and employed over 700 people globally.
Weltonhurst was founded in 1966 and produces plastic components for the industrial, healthcare and packaging sectors from its 40,000 square metre Lancashire facility. The business reported a turnover of over £13m in FY20 and employed a total of 116 people.
Advisers: None mentioned.
Renatus Comment: In 2019, UK-based private equity, Elysian Capital purchased a stake in Mergon. This acquisition is the first since Elysian entered the business and will give Mergon both a high-quality facility in the UK and enhance the business’s capabilities in moulding. Elysian is one of many UK PEs who have invested in Irish businesses in recent years including but not limited to HG, Livingbridge, Montagu, Sovereign, Alcuin, Lonsdale, Vitruvian, Elaghmore, Volpi, Synova, H2, Elgin, Exponent, Perwyn, Capvest, Bregal Milestone, and more.
Source: Mergon Press Release
Writech Group announces the acquisition of Compco Fire Systems
Deal Details: Mullingar-based provider of fire protection systems, Writech, has announced the acquisition of UK-based Compco Fire Systems. The deal consideration was not disclosed.
Writech, founded in 1981 by Mary and Thomas Wright before sons Ted and Alan took over in 2008, designs, manufactures, installs, and services fire systems across a range of sectors including data centres, life sciences, logistics, retail, office and food, and beverage. The business reported turnover of over €15m in 2020 and employed a total of 52 employees. Writech has offices in Ireland, England, and the Middle East. In August of last year, Waterland acquired a majority stake in Writech.
Compco was founded in 1988 and is the UK’s largest privately-owned fire engineering company. The business employs over 200 people and has 6 offices throughout the UK. The business reported a turnover of over £35m in 2021.
Advisers: Writech: Flynn O’Driscoll advised Writech on this transaction with the team consisting of David Ryan (Partner, Corporate and Commercial), Pat Flynn (Chairman), Elaine Cully, Laoise O’Malley, Nicola Flannelly, and Amanda O’Connell. English legal advice was provided by the Hill Dickinson team of David Mkhitarian, James Robinson, and Jessica Lee.
Compco: Thursfields with a team of Gareth Burge and Joe Rollins acted for Compco
Renatus Comment: Writech started off selling simple fire sprinkling systems and today offers complete fire system design and consultancy services to blue-chip companies in the areas of pharma, retail and data centres. Writech looks like another company that has delivered for global customers in Ireland and has the potential to follow them around the world on its next chapter. This Compco acquisition, the first since the Waterland deal, will allow the business to do just this by making it one of the largest providers of fire protection systems in the UK.
Source: Writech Press Release
Bevcraft Group acquires Them That Can
Deal Details: Bevcraft Group, the Irish-based ‘craft-can’ specialist, has acquired Them That Can, a UK-based mobile canning operator. Deal details have not been disclosed.
Bevcraft Group provides a wide range of specialist process and packaging solutions, primarily to the craft beverage industry in Ireland, the UK, and Europe. The company is headquartered in Mullingar in Co. Westmeath. The business is wholly owned by Darren Fenton and Ciaran Gorman.
Them That Can is the premier mobile canning service in the UK. Founded in 2015, the business is based in London and led by Jamie Kenyon, Mark Banks, and Peter Haydon.
Advisers: Bevcraft: Corporate Finance: RBK provided Corporate Finance advice for Bevcraft Group. Legal: Royds Withy King provided legal advice. Deal Advisory: Acquisition management is being led by Henry Reilly and Michael Briody, who are part of Bevcraft’s senior management team.
Them That Can: None mentioned.
Renatus Comment: The acquisition of Them That Can sees Bevcraft continue its investment in growth in the UK, with the company having invested €5m in a new facility in Peterborough in March 2021. This Peterborough facility hosts a mobile canning fleet and distribution hub. The acquisition of Them That Can will complement Becraft’s investment in the UK, given Them That Can’s market-leading expertise in the space.
Source: Bevcraft Press Release
Envision acquired by Johnson Controls
Deal Details: Armagh-based security firm, Envision Intelligent Solutions has been acquired by Johnson Controls, the Irish American conglomerate.
Envision Intelligent Solutions Limited offers security system monitoring, installing, and repair services. It specialises in the rapid deployment of CCTV, facial recognition, security turnstiles and monitoring and alarm operations. The company is based in Craigavon, Co. Armagh and was founded by Philip Murdock in 2010.
Johnson Controls International plc, together with its subsidiaries, engages in engineering, manufacturing, commissioning, and retrofitting building products globally. Originally based in Princeton, New Jersey, Tyco relocated its headquarters to Cork in 2014 and became an Irish-domiciled company. The company had FY21 revenues of €20.5bn, which converted to an EBITDA of €3.58bn.
Advisers: Johnson Controls: Mazars, led by Mark Mulcahy along with Des O’Brien, Kevin Hogan, and Kevin Boyd, conducted financial due diligence for Johnson Controls. Mazars UK, led by Andrew Ross, provided tax due diligence services.
Envision Intelligent Solutions: None mentioned.
Renatus Comment: In 2016, Johnson Controls merged with Tyco International under the name Johnson Controls. The combined company was domiciled in Ireland. It was reported at the time that the deal would result in $150m in annual tax savings. Johnson Controls’ Cork headquarters acts as a showcase for its building management system which gives us a glimpse of what technology we expect to see in the office blocks of the future. The Envision acquisition should strengthen its product portfolio, in particular construction site solutions.
Gas Analysis Services acquired by SGS
Deal Details: Gas Analysis Services (“GAS”) has been acquired by Swiss-based SGS. Deal details were not disclosed.
Gas Analysis Services Limited provides gas analysis and testing services. It was formerly known as Technology Services. The company was founded in 1987 and is based in Rathnew, Ireland. Prior to the acquisition, the business was majority-owned by Judy Byrne and Frank Whelan. The business generated c. €7m of turnover in 2021.
SGS SA provides inspection, verification, testing, certification, and quality assurance services in Europe, Africa, the Middle East, the Americas, and the Asia Pacific. It operates in five segments: Connectivity & Products, Health & Nutrition, Industries & Environment, Natural Resources, and Knowledge. The business had FY21 revenues of €5.9bn, which converted to an EBITDA of €1.16bn. The business is led by CEO, Frankie Ng.
Advisers: None mentioned.
Renatus Comment: The deal will see GAS form part of SGS’ Industries & Environment Measurement and Calibration services portfolio, and further emphasises the attractiveness of Irish talent in the pharmaceuticals sector.
Deal Details: UK-based contract development and manufacturing organisation, Sterling Pharma Solutions, has announced the acquisition of Novartis’s manufacturing and other facilities at its Ringaskiddy site. As part of the agreement, Sterling will operate the facilities to produce products for Novartis. The deal consideration was not disclosed.
Novartis is a Swiss multinational pharmaceutical corporation based in Basel, Switzerland. It is a publicly-traded business and one of the largest pharmaceutical companies in the world. Novartis employs 1,500 people in Ireland across three sites throughout Cork and Dublin, 400 of which are based in Ringaskiddy.
Sterling was founded as Sterling Drug API in 1969 and became Sterling Pharma Solutions following an MBO in 2016. The business has since been acquired by GHO Capital, a UK-based healthcare investor.
Advisers: None mentioned.
Renatus Comment: This deal is Sterling’s third site acquisition since the business was acquired by GHO in 2020. As businesses like Novartis transition from high volume products to more specialised products such as modern biological drugs and gene therapies, excess capacity will become more of an issue. This creates an opportunity for operators such as Sterling to take over and streamline facilities.
Source: Sterling Press Release
AbbVie Acquires Syndesi Therapeutics
Deal Details: Irish-backed biotechnology company, Syndesi Therapeutics, has been acquired by AbbVie, the US pharma giant. The reported deal value is $1bn, Syndesi shareholders will be paid $130m upfront, with potential additional payments of up to $870m based on the performance of certain predetermined milestones.
Syndesi Therapeutics is a Belgian-based clinical-stage biotechnology company, which is backed by Irish Venture Capital firm, Fountain Healthcare Partners. The business is led by CEO, Jonathan Savidge.
AbbVie is a US pharma company, which develops, manufactures, and sells pharmaceuticals worldwide. The company is led by CEO and Chairman Rick Gonzalez. In FY21, the company had revenues of $47.5bn, which converted to an EBITDA of $23.7bn.
Advisers: Abbvie: Legal: Cleary Gottlieb Steen & Hamilton LLP acted as legal counsel to AbbVie.
Syndesi: Legal: Goodwin Procter LLP acted as lead legal counsel, along with Deloitte Legal, Belgium. Financial Advisory: Lazard acted as the exclusive financial adviser to Syndesi.
Renatus Comment: This marks another significant milestone for Irish venture capital firm, Fountain Healthcare Partners. Recent exits include Inflazome which was sold to Roche for €380m and Kandy Therapeutics which was sold to Bayer for $425m upfront and potential for a further $450m. Fountain Healthcare is investing out of its third fund and investors include ISIF, European Investment Fund, and AIB.
Source: AbbVie Press Release
Renovare Environmental acquires Harp Renewables
Deal Details: Renovare, a US publicly traded circular economy and sustainable technology provider has announced the acquisition of Meath-based Harp Renewables and its affiliate Harp Electrical Engineering Solutions. The deal consideration is a reported $20m, made up of $15m in Renovare common stock and $5m in cash. The deal is expected to close in the first half of FY22.
Harp Renewables was founded by Shane Finnegan (director) in 2014. The business manufactures and sells a range of bio-digesters that convert food and other organic waste into a dry, safe, nutrient-rich, bio-fertiliser. Harp Electrical was founded in 2002 and is an electrical control panel manufacturing and electrical contracting company. Prior to this transaction, Harp Electrical was owned by Harp Renewables founder, Shane Finnegan.
Formerly trading as BioHiTech Global, Inc., Renovare Environmental, Inc (NASDAQ: RENO) provides solutions related to renewable fuel manufacturing and alternatives to food waste management which allows for cleaner air and less land pollution.
Advisers: None mentioned.
Renatus Comment: According to Harps’ website, its product has diverted over 14k tons of waste from landfills. If we are to meet agreed climate change and circular economy targets, we need to stop burying our waste and companies like Harp are providing innovative alternatives to enable us to work towards our goal.
Deal Details: Hastings Insurance has acquired Galways-based Padraig McInerney Insurance for an undisclosed sum.
Established in 1980 by David & Mary Mc Dermott, Hastings Insurance provides insurance services and advice through seven offices across Connacht. In FY20 the business Hastings (Westport) Limited recorded revenue of €5.6m and an EBITDA of €101k.
Padraig McInerney Insurance is a family-owned brokerage that has been trading for 24 years, dealing with personal and commercial lines clients across the Galway region.
Advisers: Hastings: RBK acted for Hastings Insurance.
Renatus Comment: This acquisition marks the ongoing successful expansion of the Hastings Insurance group. This deal follows on from the 2021 trend of rapid consolidation in the insurance sector. This was highlighted in the Renatus Blog in January, where we highlighted that 2021 saw insurance deals account for 52% of the 32 deals in the financial services space reported by Renatus in 2021. So far in 2022, we have seen at least 10 deals in the insurance space, suggesting that this consolidation trend will continue for the foreseeable future.
Source: Hastings Insurance
PIB Group acquires Alan Tierney & Partners
Deal Details: PIB Group Limited (“PIB”) has acquired Alan Tierney & Partners Ltd (“Tierneys’”). Deal details have not been disclosed.
PIB Group Limited offers insurance brokerage services. It provides advisory, analytics, claims management, premium funding, and risk management solutions. The company is backed by investors Apax Partners LLP and The Carlyle Group. Based in Nottinghamshire, the business is led by CEO, Brendan McManus. It had FY20 turnover of £152m, which converted to an EBITDA of £23.6m.
Established in 1979, Alan Tierney & Partners is a retail commercial insurance broker and a financial planning firm. The business is a specialist in the hospitality and leisure industries, in particular the pub sector. The business is based in Dublin and led by MD John Tierney. The business had FY20 turnover of €1.3m, which converted to an EBITDA of €156k.
Advisers: None mentioned.
Renatus Comment: PIB has played a major role in the Irish insurance M&A plays referenced in the above comment, with this deal marking its fourth in the last 12 months, following the acquisitions of Campion Insurance, Oliver Murphy, and Creane & Creane.
Source: PIB Group Release
Brady Insurance acquires Loftus Insurance Brokers
Deal Details: Brady Insurance has acquired Loftus Insurance Brokers for an undisclosed sum.
Brady Insurance was founded in 1959 by the current Managing Director’s parents, Jane Brady. The business is headquartered in Carrick-on-Shannon and has an office in Dublin. It provides a suite of business and personal lines products and specialises in commercial insurance products for the Irish market through its wholesale brand, Brady Underwriting.
Loftus Insurance is the consolidation of three existing brokerages. Set up in 2000, it has since built a strong reputation from its base in Carrick-on Shannon, County Leitrim.
Jane Brady will run the new combined entity as managing director.
Advisers: Brady Insurance: RBK acted for Brady Insurance.
Renatus Comment: In August 2021, Brady Insurance was partially acquired by Coverys European Holdings (CEH). CEH are an insurance agency platform & the partnership brings Brady Insurance into a network of European MGAs who are also part of the CEH family. This development will help Brady Insurance remain at the forefront of Irish broking and insurance wholesaling. The acquisition takes the headcount of Brady Insurance in Ireland to 33.
Source: Brady Insurance, Insurance Business Mag
Industrial Water Management acquires Greencastle Technologies Limited
Deal Details: Dublin-based, water treatment business, IWM, has announced the acquisition of water purification specialist, Greencastle Technology. The deal consideration was not disclosed.
IWM was founded by Barry O’Donovan in 1974 and is based in Baldonnel Business Park, Dublin. The business provides a range of services related to water hygiene, water treatment, and training. The business is led by managing director, Conor O’Donovan who has been involved in the business since 2005. IWM is majority-owned by EnviroChemie, a German water treatment group.
Greencastle Technology was founded by Seamus Sloan in 2005 and supplies water purification equipment such as reverse osmosis, water softeners, filters, UV equipment, and more. The business primarily serves the healthcare, pharmaceutical, labour, and food and beverage industries and is based in Dublin.
Advisers: IWM: Ross Little (Corporate Partner) of DWF provided legal advisory. Derek Dervan and Brendan Murphy of Roberts Nathan provided Financial/Tax advice.
Greencastle: Elaine McGrath of Reddy Charlton LLP provided advisory to Greencastle.
Renatus Comment: IWM was acquired by EnviroChemie Group, a German water treatment group in late 2020. The group reported a turnover of c. €40m last year and has a presence in Germany, the UK, and Ireland. This transaction will give IWM/EnviroChemie a more extensive presence in Ireland and give Irish customers the potential to benefit from Greencastle’s broad range of products and services.
Source: IWM Press Release
DEAL UPDATES & OTHER NEWS
Agreement to Acquire Sitetech Building Products in Ireland
Deal Details: Irish-headquartered building materials distributor and DIY retailer, Grafton Group, have received CCPC clearance to complete the previously reported acquisition of Irish construction distribution business, Sitetech Building Products. The deal was announced in December of last year. The deal consideration was not disclosed.
Sitetech supplies concrete and brickwork accessories to the Construction and Civil Engineering industries. The business has operations in both Dublin and Cork and reported revenue of over €16.9m in 2020. Prior to the completion of this transaction, the business was owned by Damian Long, James Long, and Billy Clarke.
Grafton Group plc is a manufacturer and retailer of building supplies. The business operates the Plumbase, Buildbase, Jackson, MacNaughton Blair, Chadwicks, and Woodies retail chains, and produces dry mortar. Grafton is traded on the London Stock Exchange and has operations in the UK, Ireland, The Netherlands, and Finland. The business reported revenue of over €2bn in 2021.
Advisers: Sitetech: PwC provided corporate finance advisory to Sitetech with the team made up of Brian O’ Brien, William Kearney and Aimee Corcoran. Adam Griffiths of Taylor Wessing provided legal advisory.
Grafton: Beauchamps (led by Shaun O’Shea) provided legal advice to Grafton Group.
Source: Grafton Press Release
Arkphire, founded in 1981, is a leading IT product procurement and services company, serving customers in more than 90 countries. Arkphire was acquired by North American tech company Presidio in November of 2020.
The business reported a turnover of c. €185.3m in FY21, representing a c. 25.2% increase year-on-year. This converted to an EBITDA of c. €10m, a c. 30.9% increase year-on-year.
Significant uses of cash included fixed asset purchases of c. €3.3m and financing movements amounting to c. €8.7m. The business ended FY21 with a closing net cash balance of c. €5.6m, representing a negative cash movement of c. €3.5m over the year.
The business employed an average of 313 people throughout FY21 at a cost of c. €18.8m. The business is owned entirely by Dioped Limited, a subsidiary of Presidio.
Frank Hogan Limited (t/a Frank Hogan Limerick) is a Limerick-based car dealership. The company is the main stockist for Mercedes-Benz, Volkswagen, Volkswagen Commercial Vans and SKODA in Limerick. The business is majority owned by Frank Hogan.
In its financial year to March 2021, the business had turnover of c. €42.3m, a decrease of 3.8% year-on-year. This converted to an EBITDA of c. €1.5m, an increase of 11.6% year-on-year. The rise in EBITDA was primarily driven by a reduction in administrative expenses by 14.4%.
The business finished the year with a cash balance of c. €0.1m, an increase of c. €1.1m year-on-year. The business employed an average of 45 people at an annual cost of c. €2.1m.
Who: Sure Valley Ventures, an Irish-founded venture capital fund, has raised funding.
What: The firm has raised £95m (€113m) in funding.
Why: The funding will be used for a UK-focused software technology venture capital fund, with plans to invest in 25 software companies over the lifetime of the fund across metaverse and immersive technologies, software security, and artificial intelligence.
Source: Irish Times
Who: Soothing Solutions, a Louth start-up that has developed a honey-based product to help young children with sore throats, has securing funding.
What: The business has raised an estimated €800,000, which was led by The Redesdale Food Fund.
Why: The investment will be spent on new production facilities in Dundalk, as well as on marketing and sales, as Soothing Solutions prepares to launch its newly-developed product in pharmacies nationwide.
Advisors: Alan Ryan and Graham Coyne of Wallace Corporate Counsel acted as legal advisers to the company.
Source: The Irish Times
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.
The rate of Eurozone inflation for February 2022, up from 5.1% in January. According to @ecb. @RTEbusiness
440.8% & 373.6%
The respective year-on-year increases for January 2022 in the Irish overseas passenger arrivals and Irish overseas passenger departures when compared with the same period in 2021. According to @CSOIreland
The sum of Irish consumers that routinely consume protein products, both natural and packaged. According to a report from @BounceInsights. @CheckoutIreland
The year-on-year increase of average weekly earnings in the Irish economy for 2021. According to the @CSOIreland
The new price of a standard Irish national letter stamp, a 0.15cent increase. According to @RTEbusiness
The AIB IHS Markit manufacturing Purchasing Managers’ Index for February 2022, the slowest pace seen in 11 months and down 1.6 points from January. A mark above 50 indicates growth. According to @RTEbusiness
The year-on-year rise in Irish residential development commencements for 2021 when compared to 2020. This reflects commencement notices lodged on 24,304 units in residential schemes of more than 20 units. According to @DeloitteIreland. @RTEbusiness
The year-on-year rise in Irish retail sales as of January 2022. According to @CSOIreland
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Renatuswas 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:
Growth financing – both organic and acquisition growth financing