Navy-Blue-Logotype-1Navy-Blue-Logotype-1Navy-Blue-Logotype-1Navy-Blue-Logotype-1
  • Business Owners
  • Management Partners
  • Team
  • Portfolio
    • Boojum
    • Simtech
    • Rennicks
    • CRS
    • Kappture
    • Allied Imports Group
    • AQF Medical
    • Irish Rollforming
    • Herdwatch
  • Newsletter
    • Podcast
    • Knowledge Centre
      • The Real Deal 2020
      • The Real Deal 2019
      • The Real Deal 2018
  • Careers
  • Contact
Renatus’ Weekly M&A Newsletter – 23/08/2020
August 23, 2020
Renatus’ Weekly M&A Newsletter – 06/09/2020
September 6, 2020
September 14, 2020

IMMAC Group acquires 2 Irish nursing homes, Cordovan Capital Partners exits TruCorp, Laidir Investments acquires majority shareholding in Patrona, Irish solar farms acquired by a Norwegian firm and much more on this weeks newsletter.

Renatus Private Equity Dublin, Ireland

Dear Reader,

You are receiving this mail every week as we see you as a key partner and we look forward to continuing to enjoy our journey with you over the decades ahead.

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

M&A ACTIVITY

IMMAC Group acquires 2 Irish nursing homes

Deal Details: German-based healthcare investor IMMAC Group has acquired St Gabriels Nursing Home in Raheny, Dublin, and Beechpark Nursing Home in Kildare.
The financial consideration was not disclosed.

IMMAC is one of Europe’s leading investors in the healthcare sector, with €1.65bn under investment, in 154 nursing homes and 12,500 beds accross Germany, Austria, and Ireland.

The addition of St. Gabriel’s and Beechpark will increase IMMAC‘s Irish nursing home portfolio to 312 residential beds accross five facilities,  all of which are based in Dublin and Kildare.

Advisers: McCann Fitzgerald and JPA Brenson Lawlor advised IMMAC on both transactions.

Renatus Comment: IMMAC first entered the Irish nursing home market in 2017 when they acquired Beechfield Care Group. Back then there was a pressing demand for Nursing home beds and now with Ireland showing an aging population, the market size is expected to continue to grow. Although one setback could be that tightened regulations in this space due to Covid-19 might cause a shift in customer preferences as they opt for stay-at-home options.

Source: IMMAC Group Press Release

Cordovan Capital Partners exits TruCorp

Deal Details: Cordovan Capital Partners, led by its founder Mike Irvine, is exiting portfolio company TruCorp. The TruCorp management team of Michael Calo and Ryan Colhoun will acquire the shareholding for a reported return of 10.4x capital invested.

Established in 2016 and based in Belfast, Cordovan Capital Partners is a venture capital and private equity investment syndicate based in Northern Ireland. It focuses on MBO/MBI transactions, growth capital and early-stage investment.

NI-based TruCorp designs, manufactures, distributes & sells the most durable & realistic medical training simulators in the world: manikins, task trainers, apps & more.

Advisers: KPMG CF in Belfast (Russell Smyth and Chris Donnelly) and Tughans (John McGuckian and Paul O’Brien) advised the shareholders. Mills Selig (Chris Guy) advised management.

Renatus Comment: Cordovan Capital is having an exciting year so far, despite the Covid challenges. Its portfolio company reefLIVE Aquarium has been granted planning permission for its new Belfast Aquarium, CIGA Healthcare Ltd was announced as part of the UK-Rapid Test Consortium rolling out UK manufactured Covid-19 rapid antibody tests, and Decorum Vending LIimited become the preferred PPE retail solution for the entire Network Rail system across the UK.

Source: Cordovan Capital Partners

Laidir Investments acquires majority shareholding in Patrona

Deal Details: Laidir Investments Ltd enter the Irish insurance intermediary market with the acquisition of a majority shareholding in Patrona Underwriting Limited. The deal value has not been disclosed.

Cork-based Laidir, established in March 2020, is backed by committed capital from a consortium of private equity and  high net worth investors. It is headed by a group of Irish and UK insurance professionals.

Patrona, based in Wexford, specialises in the underwriting and distribution of Personal and Commercial Lines General Insurance products.

Following the deal Patrona’s existing management team will remain in place, headed by CEO Tony Wright.

Advisers: Coombes Corporate Finance Ltd provided the due diligence support.

Renatus Comment: ​​​​​The insurance industry has experienced a significant amount of M&A activity in the recent past as trade players and private investors have executed on consolidation plays in the space. The Sunday Times reports that International private equity buyers have spent an estimated €500m buying insurance brokers throughout Ireland in recent years.

Tony Wright was also the CEO/Owner Wright Group Brokers Ltd, which was acquired by Goldman Sachs-backed Aston Lark in December of 2019.

Source: LinkedIn

Irish solar farms acquired by a Norwegian firm

Deal Details: Statkraft, Norway’s largest energy producer, has acquired rights to five solar farm projects in Cork, Laois, Meath and Tipperary. The deal is rumoured to be worth between €10m and €12m.

The Norwegian company is planning to invest €150m in the sites which already have a full planning permission.  The solar energy farms will generate a combined capacity of 275MW, when completed.

Statkraft recently completed a €30m wind farm at Kilathmoy on the Kerry-Limerick border with 23MW capability.

Advisers: None mentioned

Renatus Comment: This investment comes on the back of the recently launched Renewable Electricity Support Scheme 1 (RESS-1). RESS 1 is the first Renewable Electricity Support Scheme by the Government of Ireland and is a key component of the Government’s Climate Action Plan. The scheme aims to provide incentives toward developing renewable energy projects in Ireland.

Source: Independent

Interactive Services acquired by LRN

Deal Details: Dublin-based global compliance and online learning firm Interactive Services has been acquired by LRN Corporation for an undisclosed sum.

LRN, founded in 1994, is a US-based ethics and compliance education and technology company. LRN is owned by US private equity firm Leeds Equity Partners. Leeds is backed by the Ireland Strategic Investment Fund (ISIF) who reportedly committed $100m to Leeds Equity Partner Fund VI.

Interactive Services was founded in 1993. It is now an award-winning developer of corporate eLearning solutions.

The combined organization will help more companies build effective compliance programs and create ethically aware and inspired workforces.

Advisers: ByrneWallace team led by Neil Keenan and Anthony Smyth acted for Interactive Services.
Adrian Wall and Adam Griffiths of Regan Wall acted for some of the shareholders.

Latham and Watkins out of NY leading with Arthur Cox providing Irish law input on the sell side.

Renatus Comment: The E-learning industry is widely cited as being one of the winners from Covid-19 due to the closure of physical classrooms. UNESCO have estimated that roughly 1.38 billion learners have been impacted by these closures.  These closures have forced the adoption of remote and digital learning solutions.  While its uncertain how much of this forced adoption will stick in a post-Covid environment, its clear that the traditional learning model has been disrupted.

Source: LRN Press Relase

BoyleSports makes further acquisitions in the North

Deal Details: BoyleSports, Ireland’s largest independent betting chain, has acquired six of the seven shops from the HughesBet chain in Northern Ireland for an undisclosed sum.

The recent acquisitions are part of BoyleSports’ UK growth drive. The company now has over 60 shops across the UK. Earlier this year, it took over William Hill’s chain of 33 shops in NI and 2 in the Isle of Man.

Advisers: None mentioned

Renatus Comment: Consolidation in retail bookmaking has been rife. Family firms Cashmans, Eastwoods, Bamburys, Keenans, Harneys, Hacketts, McGranahans, Bruce, Mulhollands and now Hughes and many others have exited or partially exited to Boylesports, Paddy Power or Ladbrokes. Boylesports also bolted on the old William Hill Irish estate and the legacy of the Celtic Bookmakers estate. It is veering towards a vibrant duo of Boyles and Paddy Power with Ladbrokes a distant third in Irish retail betting. This follows many other mature industries with two at the top fighting it out and leaving the rest behind think McDonalds/BurgerKing, Airbus/Boeing, Coca-Cola Pepsi, UPS/FedEx etc

Source: BoyleSports

Irish Life acquires ClearView

Deal Details: Irish Life has acquired Clearview Investment & Pensions for an undisclosed sum.

Clearview is a Limerick-based wealth management company led by Joan Garahy, a non-executive director in Kerry Group. The business was set up in 2011 and provides financial planning services that deals with investments, pensions, life & illness protection and savings for individuals, businesses and charities.

Advisers: Neil O’Gorman of HOMS advised the Sellers.

Renatus Comment: Irish Life has made a number of investments in the pensions and independent wealth management space in the last few years. Since 2018, it has acquired Invesco, City Life, Acumen & Trust, Conexim and APT Workplace Pensions. It was also a contender for Goodbody Stockbrokers when it was on the market.

CRO filings show the company is 50:50 owned by Joan Garahy and Patrick G. O’Connor and that the company generated an operating profit of c. €80k off turnover of c. €418k for the period ending October 2019.
​​​​​
Source: Sunday Times

Benchwarmers sold to Rocket Sports

Deal Details: Benchwarmers.ie, a sports website owned by the Irish Times group is to be sold to Rocket Sports. The consideration for the deal was not disclosed.

Benchwarmers reportedly gets over two million monthly page views and has over two million followers on Facebook.

Rocket Sports is a British sports marketing firm that operates a number of sports news and social media platforms

Advisers: None mentioned

Renatus Comment: Benchwarmers originated as a student project at Cork Institute of Technology and after building a significant following was acquired by Landmark Media Investments back in July of 2015. Benchwarmers became part of the Irish Times Group when it acquired Landmark Media Investments in 2018.

Source: Sunday Business Post

DEALS IN THE MAKING

INM owner reported to acquire Dutch media group

Independent News & Media owner Mediahuis is reported to be in early stage talks to acquire Dutch newspaper group NDC Mediagroep.

NDC is the largest independent media company in the north of the Netherlands. It employs 550 people and had a turnover of €112m last year.

Belgium-based Mediahuis, which expanded into Ireland by buying INM last year, already has presence in the Netherlands, where it publishes a number of titles.

Source: Independent

Aryzta in takeover talks with Elliot Management

Irish-Swiss baked goods group Aryzta is reportedly in advanced takeover talks with US activist hedge fund group Elliot Management.

Elliott Management Corporation, founded in 1977, is one of the oldest fund managers of its kind under continuous management.
As of July 1, 2020, Elliott manages approximately $41bn in assets. The firm employs 466 people, in its New York headquarters and affiliated offices elsewhere in the United States, London, Hong Kong, and Tokyo.

Aryzta has recently been heavily tipped as a takeover target. The company reportedly hired Rothschild & Co in April for a strategic review that effectively put the business on the market.

Source: Irish Times

Applegreen signs Conditional Lease with New York State Thruway Authority

Irish-based motorway services station operator Applegreen has announced that it is part of Empire State Thruway Partners (the “Consortium”) which has signed a conditional 33-year lease. The lease will see the Consortium design construction, financing, operation and maintenance of the 27 motorway service areas on the New York State Thruway.

The award is subject to successful completion of a financial plan by the Consortium members, securing financing for the plan, as well as a number of subsequent approvals.

​​​
Source: Applegreen press release

DEAL UPDATES

Easons acquisition of Dubray Books is cleared by the CCPC

Initially reported in March, Easons acquisition of Dubray Books Limited has now been cleared by the Competition and Consumer Protection Commission.

Easons, founded in 1866, is Ireland’s oldest and largest book retailer with over 60 outlets nationwide.

Dubray Books, founded in Bray in 1973 by Helen Clear, comprises 8 stores across the greater Dublin area and Galway.

Following this acquisition, Dubray will retain as a separate brand with its retail outlets in their current format.

Source: CCPC

CORPORATE RESCUE

Cork homebuilder back in business

O’Brien and O’Flynn construction company has made legal history by becoming the first Irish firm that had been put into Nama to come out of both receivership and liquidation processes.

O’Brien & O’Flynn UC (and two subs), has successfully obtained orders from the High Court to effectively discharge the official liquidators and statutory receivers.

Homebuilder O’Brien & O’Flynn, founded in 1976, now has ambitious plans for more projects across the county.

The Rescue Team: The rescue scheme was designed and led by Patricia O’Brien with Gavin Hinchy and Brian Moral of BHK Solicitors LLP.

Source: Irish Examiner

COMPANY PERFORMANCE

EBITDA  is an accounting term and is often the best indicator of profitability in non-capital-intensive businesses before financing and tax are considered. In capital-intensive businesses EBIT or EBITDA less average Capital Expenditure are often better measures. YoY is an acronym for the year-on-year movement in turnover, EBITDA, etc.

Established in 2003, Tempside operates retail shops under the “Polonez” brand. At the time it was one of the first shops in Ireland providing Polish people with Polish foods. Around 40,000 people visit their c.30 shops every week.

In FY19,  Tempside Limited saw revenue increase by a strong 15.2% to c. €34.5m while EBITDA  increased by an impressive  by 50.4% to c. €2.5m. Gross margins increased by c.1.8% due to a shift in the sales mix to higher margin products.

Net cash Increased by c.€86k to leave and ending balance of c.€433k. The largest drain on cash was the  c.€2.47m spent on  Fixtures Fittings & Equipment and a payment to acquire investment property.

The company hired an extra 74 people in FY19 bringing the total headcount to 251 employees at a total cost of c.€5.6m. Adrian Rezmerita owns 100% of Tempside Limited.

Established in 1967, Walter Watson Limited, based in Co. Down,  has grown to become an industry leader in the disciplines of structural, agricultural and reinforcement steel fabrication.

In FY19, Walter Watson saw revenue decrease by 2.8% to c. £54.2m while EBITDA increased by 9.2%  to c. £4.3m. Gross margins were up slightly due to a reduction in the cost of sales. The directors mention planned procurement and forward buying of raw material as having a significant positive influence.

Net cash decreased by c. £392k to leave an ending balance of c. £5.5m. The most significant drain on cash was the £2.6m negative Working Capital movement and the c.£950k spent on Motor vehicles and Plant & Machinery.

The company had 238 employees in FY19  at a total cost of c. £8.28m. The business is owned by the Watson family.

Established in Sandyford, Ethos Engineering provides mechanical and electrical consultancy services to the residential, commercial, retail, data centre, sports, leisure, micro-electronic, healthcare, educational, municipal, high tech and pharmaceutical sectors.

In FY19, Ethos Engineering saw revenue increase by 27.5% to c. €11.8m while EBITDA also increased by 24.5% to c. €2.6m. Gross margins were slightly down from 35% in FY18. Of that revenue figure, c.63% came from the Republic of Ireland and c.21% came from France.

Net cash increased by c. €419k to leave and ending balance of c. €2.1m. The biggest drain on cash was the c.€1.38m worth of dividends paid to shareholders.

The company had 80 employees in FY19  at a total cost of c. €5.4m.  Gregory Hayden and Alisa Hayden together own 100% of Ethos Premier Holdings which is listed as the ultimate owner of Ethos Engineering Limited.

RECENT FUNDRAISINGS

Who: Solgari, a Microsoft Premium & Inner Circle Business Applications ISV Partner, has completed a funding round.

What: €4m investment is backed by a number of private investors, Enterprise Ireland & GAN Ventures in US, UK and Ireland.
Solgari was advised by Q Advisors, Primary Access & Research in the UK, and Kagi Consulting, Pat Landy Corporate Finance and Grant & Co in Ireland.

Why: The investment will be used to accelerate global expansion in response to a spike in global demand as companies shift the delivery of customer care to cloud solutions.

Source: Solgari

Who: Gray’s Clip, run by Davy and Julie Gray, has secured investment.

What: £250,000 (c. €229,000) comes from nine investors through the Halo Business Angel Network (HBAN) and £100,000 (€91,656) from Co-Fund NI, part of Invest NI’s Access to Finance portfolio.

Why: The investment will be used to get the product ViperClip ready for launch next year.

Source: Belfast Telegraph

Who: Mortgage and insurance application company onlineapplication.ie, founded by mortgage expert Karl Deeter, has raised funding.

What: €1m is raised through several Irish entrepreneurs including Patrick Joy and Harry Largey and Enterprise Ireland.
Eoghan Doyle and Hugo Grattirola of Philip Lee provided legal advice for the investor group. Onlineapplication.ie was advised by Maples (legals) and Hogan and Associates (financials).

Why: The purpose of the funding was not disclosed however it is believed to be used for further development.

Source: Irish Times

Who: Irish e-scooter start-up Zipp Mobility, founded in 2019 by Charlie Gleeson, secures further investment.

What: €500,000 comes from investors including Brian O’Driscoll and a New York-based investor bringing the total funding to date to more than €1m.

Why: The investment comes after it received the all clear from the UK Department of Transport for use in its trials of e-scooter sharing schemes. This funding will be used for their UK launch.

Source: Silicon Republic

Who: Dublin start-up FoodMarble, which developed  bespoke digestive breath analyser, has raised funding.

What: €1.2m funding round was led by Halo Business Angel Network. Other Investors include Enterprise Ireland, SOSV and Delta Partners

Why: The investment will be used to support the company’s overseas expansion into the US and Canada and to strengthen its R&D capability.

Source:  Irish Times

Who:  Hour One, an Israeli start-up that has developed a way to create synthetic characters based on real people. These characters are then used in articifial intelligence applications.

What: HourOne has raised $5m from Amaranthine Ventures, a Venture Capital firm backed by Paddy Cosgrave.

Why: There was no specific uses for the funds mentioned

Source: Sunday Times

Who: Eppione, a start-up that helps businesses automate their Covid-19 compliance requirements along with providing a wide range of software for HR management.

What: The company has raised a reported €1.25m in funding from backers including Ciaran Mulligan of Blue Insurance as well as Eppione founders David Kindlon, Neil Fallon and Ernest Legrand.

Why: No specific reason stated.

Source: Sunday Times

Who: Kinzen, a fake news detection platform built by Mark Little and Áine Kerr.  ​​​​​​

What: Kinzen is closing a €1.65m fundraising round that reportedly values the company in excess of €15m. Backers include Business Venture Partners, FST Growth, DK Investments, tech investor Ray Nolan and Enterprise Ireland.

Why: Funds raised will likely be used to continue developing the technology platform to tackle misinformation, an increasing problem for big tech companies such as Google, Facebook and Twitter.

Source: Sunday Business Post

EXECUTIVE AND BOARD APPOINTMENTS

We in Renatus believe that more important than the deals are the people and we have teamed up with leaders in this field Korn Ferry to provide you with details of key recent executive and board level appointments.

Richard Wheatley

Source:
(Google Images & LinkedIn)


Peter McCarthy

Source:
(Google Images & LinkedIn)


Ann Markey

​​​Source:
(Google Images & LinkedIn)


Paul Corrigan

Source:
(Google Images & LinkedIn)


John Slattery

Source:
(Google Images & LinkedIn)

THOUGHT FOR THE WEEK

We were reading through the annual ifac Food and AgriBusiness Report published during the week.

The resilience of the Food and Agri sector during Covid has been amazing heretofore. Only one in ten companies surveyed let any staff go permanently over the past year while 9 out of 10 employers expect to maintain or grow staff numbers over the coming year. The Temporary Wage Subsidy Scheme was critically important though with 39% of the businesses using it since March.

This resilience will be tested over the coming period with Brexit now looming very large indeed. The sector is massively exposed and as Minister Coveney said at the ASA conference on Friday, “A very basic, thin agreement that avoids tariffs and quotas is the most we can hope for this year”. Brexit  has the potential to be much more damaging to the Food and Agri sector than Covid-19 and the resilience the sector has shown will be tested with only 48% of stakeholders who responded believe they are ready for Brexit.

A full link to the report can be found here 

@RenatusCapital Tweets

10.5%

The year-on-year decrease in the monthly services index in Ireland for July 2020 with the most notable changes in Accommodation and Food Service Activities (-51.8%) and Information and Communication (+2.3%), according to @CSOIreland

15.4%

The unemployment rate in the Republic for August 2020, down by 2.2% month-on-month and down from a pandemic peak of 28.3% in April, according to @CSOIreland

1.0%

The year-on-year decline in the consumer price index in Ireland for August 2020 with the most notable changes in Communications (-8.4%) and Education (+4.1%), according to @CSOIreland

65.1%

The year-on-year decrease in the commercial traffic at State airports for August 2020, according to The Irish Aviation Authority (IAA). @irishexaminer

ABOUT RENATUS

Renatus was established in 2014 by Mark Flood and Brendan Traynor 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

Receive this Newsletter Direct to your Inbox

To receive Renatus’ Weekly M&A Newsletter directly to your inbox, click the button below and subscribe to the newsletter.

 

Subscribe to our Newsletter
Share

Ground Floor,    Harmony Court,
Dublin 2,                          D02 RH68

T: +353 | 1 5549269
E: info@renatus.ie

Business Owners
Management Partners
Team
Portfolio
Newsletter
Podcast
Knowledge Centre
Contact

© 2023 Copyright
Renatus Capital Partners.

All Rights Reserved

Privacy Policy

    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.