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Renatus’ Weekly M&A Newsletter – 01/12/2019
December 1, 2019
Renatus’ Weekly M&A Newsletter – 08/12/2019
December 8, 2019
December 15, 2019

Club Travel acquires Atlas Travel, KanDo Medical acquired Fleetwood Healthcare, Open Orphan to acquire hVIVO in a merger, Fields Jewellers parents' assets acquired by Watches of Switzerland and much more in this week's Renatus M&A 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

Club Travel acquires Atlas Travel

Deal Details: Club Travel, Ireland’s largest independent travel company has bought corporate travel firm Atlas Travel Services for an undisclosed sum.

Atlas operates internal units at three of the largest US multinationals in Ireland: Intel, Boston Scientific and Analog Devices. Its 66 staff and the Atlas retail brand will be retained.

Together, the two firms will employ more than 260 people. In 2018 the companies delivered combined revenues of €221.8m.

Advisers: None mentioned

Renatus Comment: Club Travel is Ireland’s largest independently-owned travel company and has further strengthened its position with this acquisition as Atlas Travel is ranked third in terms of its business size against Irish-owned travel agents as well as having recently won the 2019 ‘Best ITAA Corporate Travel Agency’ award.

We recently reported on Club Travels FY18 accounts which showed an increase in turnover by 4.7% to c. €152.3m with a post-tax profit of c. €3.3m and a cash balance of c. €56.0m with no debt. Atlas Travel reported turnover of c. €69.4m and a post-tax profit of c. €1.0m in FY18.

Source: Irish Independent

Glendalough Distillery remaining stake acquired by Mark Anthony Brands International

Deal Details: Glendalough Distillery in Co Wicklow has sold its remaining 60% stake to Canadian-owned alcoholic beverage group Mark Anthony Brands International. The financial consideration for the deal has not been disclosed however based on the reported value of the entire business at €20m, the shareholders are set to receive about €12m for the remaining stake.

Founded in 2011, Glendalough produces whiskey and gin from a distillery in Newtownmountkennedy. It is the third-biggest premium gin brand in the country and recently signed a deal with Coca-Cola HBC Ireland to distribute its products.

The main beneficiaries of the sale will be Glendalough directors Barry Gallagher and Brian Fagan who own just under 20 per cent between them. Former Irish rugby captain Brian O’Driscoll, who owns 2.72 per cent of the company, is in line to receive more than €326,000 for his stake in the Irish spirits group.

Led by Davin Nugent, Mark Anthony Brands International was established in Dublin in 2014. It employs 15 staff in Dublin, with plans to double its headcount here next year. The Irish entity is part of the Mark Anthony family of companies based in Vancouver and founded by Anthony von Mandl. Having acquired 40% stake in 2016, Mark Anthony now has full control of the business.

Advisers: None mentioned.

Renatus Comment: At 42% of Ireland’s c. €1.5bn beverage export market, Irish whiskey represents the largest segment the market, with 60% of Ireland’s whiskey exports going to North America – which makes sense given that Irish whiskey is a well-established category in America.

Irish whiskey exports grew by c. 8% in 2018 to a reported c. €623m and, according to Bord Bia, whiskey producers are forecasting to export more than 120 million bottles in 2019. Capitalising on this demand is a number of relatively new distilleries with the Alcohol Beverage Federation of Ireland stating that the number of distilleries has grown from four to 21 in the last decade.

Source: Irish Times

KanDo Medical acquired Fleetwood Healthcare

Deal Details: KanDo Medical, an independent Healthcare Solutions Provider, has acquired Fleetwood Healthcare, a Wicklow-based Medical Device Distributor, for an undisclosed sum.

KanDo Medical is a Healthcare Solutions Provider established by David O’Keeffe to bring innovative new products and solutions to the healthcare community in Ireland.

Fleetwood Healthcare was founded in 1995 by Conor and Susan Fleetwood and is a proud partner to some of the worlds most respected and innovative Endoscopy and Surgical Device Manufacturers.

Advisers: KanDo Medical was advised by Jim Mulqueen of Grant Thornton Corporate Finance and by Shannon O’Connor solicitors. Fleetwood Healthcare was advised by FHM Accountants and Felton McKnight solicitors.

Renatus Comment: The medical device distribution space is very lucrative and largely recession proof. Uniphar/Sisk Healthcare swept up a lot of these assets but there are more out there. O’Keefe has had a stellar career in Creganna, CR Bard and Baxter and has taken the risk to leave  the comfort of paid employment and has spent some time searching for a platform such as this which  he could acquire and  help to scale.

Source: KanDo Medical 

Open Orphan to acquire hVIVO in a merger

Deal Details: Open Orphan Plc and hVIVO have reached an agreement on the terms of a recommended offer by Open Orphan Plc for the entire issued and to be issued share capital of hVIVO.

Open Orphan, led by the renowned Dublin dealmaker Cathal Friel is building a leading European rare/orphan disease focused pharma services company and acquired AIM-listed Venn Life Sciences, an integrated drug development consultancy in June 2019.

UK-based hVIVO is an industry leading services provider in viral challenge studies and laboratory service and is one of few providers globally with the capability to offer high-margin challenge studies to its pharma and biotech clients.

Advisers: None mentioned

Renatus Comment: Under the terms of the offer, hVIVO shareholders will be entitled to receive 2.47 new Open Orphan shares for every one hVIVO shares. The deal values hVIVO at approximately £12.96m (€15.48m) giving the combined company a market cap of c. £30m (€35.83m).
Open Orphan is planning to raise c. £10m through a share placing in the New Year to part-fund the takeover, with CEO Cathal Friel to underwrite the deal. If the share offering doesn’t raise the funding required, Friel is reported to have provided an effective guarantee for c. €3m to support the deal.

Source: Open Orphan

Fields Jewellers parents’ assets acquired by Watches of Switzerland

Deal Details: Irish-owned Anthony Nicholas Group has sold four of its Fraser Hart luxury watch and jewellery showrooms in UK to Watches of Switzerland for c. £31.7m (€36.86m). The transaction is expected to complete in January, subject to working capital adjustments on completion and represents a valuation of 6.3x EBITDA.

The Watches of Switzerland Group is the UK’s leading luxury watch specialist operating in both the UK and US, with a complementary luxury jewellery offer. It has 132 core showrooms across the UK and US. It is the UK’s largest retailer of Rolex, TAG Heuer, Omega and Breitling brands.

Anthony Nicholas Group, founded in 1936 in Dublin, is a jewellery manufacturing and distribution group and a parent company of Fields jewellers.

The four showrooms had combined annual revenue of c. £25.7m (€30.63m) and EBITDA of c. £5.0m (€5.97m) for the financial year ended 24 June 2019. Gross tangible assets subject to the transaction are expected to be in the region of £5.5m.

Advisers:  KPMG, William Fry and Michael Hussey of Davy advised on the deal.

Renatus Comment: Anthony Nicholas acquired Fraser Hart from a Scottish family in 2007 for a reported c. £40m, presumably with Anglo debt as it ended up in the Project Evergreen debt book. The core business was clearly very strong as debt was paid down in recent years and the most recent accounts show Net Assets of €24m euro.

Source: The Watches of Switzerland press Release

Deal Updates

Virtus Health completes acquisition of remaining stake in Sims IVF

Australian healthcare group Virtus Health has completed the purchase of the remaining 15% shares in Sims IVF which it didn’t own giving it 100% ownership of the business. The purchase brings the total payout to the Sims IVF founders to a reported €24.35m.

This recent acquisition is the completion of a staged buyout deal which was agreed in 2014 and saw Virtus acquire 70% of the business at the time, with options to acquire the remaining 30%.

Sims IVF was founded by doctors Anthony Walsh and David Walsh in 1997 and operates from three clinics between Dublin and Cork.

The shareholders were on their original deal advised by Katharine Byrne of BDO Dublin.
Source: The Sunday Times

Examinerships/Receiverships

Celtic Pure in liquidation

Monaghan-based bottled water manufacturer Celtic Pure, which employs 75 people, is to be wound up. An examiner, Declan McDonald of PwC, was appointed to the firm by the High Court to see if a way could be found to keep the business alive. He has now told the High Court that he no longer believes an investment can be secured to save the company. Mr. McDonald has now been appointed liquidator to the company by Mr Justice Barniville.

Source: Irish Examiner

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.

Voxpro’s CEO joins the board of Smartzone
CEO of Business Operations at Voxpro, Aidan O’Shea, has joined the board of Smartzone.  The business which is led by Justin McInerney and headquartered in Cork is a leader in smart technology for homes and businesses in the context of security, energy management and automation.  Mr O’Shea joined Voxpro in 2014 having previously worked for Abtran for almost 9 years.

SFA appoints new Chairman
The Small Firms Association has appointed Graham Byrne as its Chairman. Mr Byrne is a senior executive at Private Equity firm, Cardinal Carlyle where he is Managing Director.  He previously Bibby Financial Services as its Chief Commercial Officer for Europe.

H&A Marketing & PR appoints new Head of Client Strategy
Cork based H&A Marketing & PR has appointed Peter Murphy as its Head of Client Strategy.  In his role, Mr Murphy will lead the marketing team at the firm. He is a former senior executive at Bewleys Coffee, prior to which he worked in brand management roles at Heineken.

Naughton Foundation appoints new board member
The Naughton Foundation, which is the private family foundation owned by the shareholders at Glen Dimplex, has appointed Michael Maher as a director of its shareholder supervisory board.  Mr Maher is a senior executive at Glen Dimplex and has worked for the firm for over 20 years as CFO, COO and most recently leading its M&A operations.  He is a former Partner at PwC.

Coca-Cola appoints new GM for Ireland
Coca-Cola HBC has appointed Miles Karemacher as General Manager for Ireland and Northern Ireland.  He replaces Matthieu Seguin who has moved with the firm to Nigeria.  Mr Karemacher has moved from Coca-Cola in Italy where he was Commercial Excellence Director for three years.  He previously held senior roles at SAB Miller around Europe.

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.

Based in Castleknock, Brady’s Dublin Limited is a car dealership that specialises in Mercedes and Seat new and pre-owned vehicles. The company also offers full service and parts facilities. In its most recent financial year, the company saw revenue increase by 8.6% to c. €46.0m with EBITDA increasing by 5.1% to c. €1.2m. The company employed an average of 60 employees at a cost of c. €2.2m in FY18. During the year, the company added c. €245k cash to the balance sheet after significant working capital movements as well as tax paid of c. €205k and a dividend of c. €160k. Cash on the balance sheet stood at c. €960k. Net assets  were c. €8.9m, up from c. €8.1m the previous year. The company is 100% owned by the Brady family.

Standard Brands (Trading) Ireland Limited, which trades as Zip™, is a manufacturer and distributor of a range of high performance and quality ignition offerings for lighting fires, including solid and liquid firelighters and natural fire logs for both indoor and outdoor use. In FY18, the company saw revenue increase by 16.9% to co. €28.5m although EBITDA was down 17.3% to c. €1.9m. The drop in EBITDA was due to decreased gross profit margin as well as an increase in R&D expenses and c. €412k stock written off during the year. The company employed an average of 83 people in FY18 at a cost of c. €3.8m. Cash increased by c. €2.7m after a working capital cash investment of c. €850k and the addition of c. €230k of fixed assets while disposing of c. €3.6m worth of plant and equipment. Cash on the balance sheet was up to c. €3.3m against a debt balance of c. €41k leaving net assets up by 4.0% to c. €29.0m for the year. Northern Irish distribution giant SHS Group bought the Standard Brands business from Graphite capital in July 2017.
Based in Down, Mash Direct Limited is an award-winning manufacturer and distributor of mashed potato and other vegetables to the wholesale and retail markets. Mash Direct performed well during FY19 with Turnover and adjusted EBITDA by 8.7% and 14.7% to £18.4m and £2.0m, respectively. Reported EBITDA has been adjusted for a £610k exceptional write off relating to stock specifically produced for a US-based retailer who delayed listing Mash’s products. Staff numbers at the company grew by 17 (9%) to 203 during the period while staff costs grew by £556k (15.6%) to £4.1m. Recent years show a heavy investment into fixed assets with a cumulative CapEx spend of over £4m in the last two years, predominantly into plant and machinery which is expected to increase output capacity and Mash’s competitiveness in the industry. An additional £2m of debt was drawn down during year bringing the debt balance at the end of the year to c. £7.25m against a cash balance of c. £516k. The debt consists of bank loans, finance leases and hire purchase contracts with £825k in cash outflows related to the repayment of these during FY19. The business is owned entirely by the Hamilton family.

RECENT FUNDRAISINGS

Who: Greencoat Renewables has raised funds.

What: €125m was raised in share placing.

Why: The share placing programme is intended to give the company greater financial capacity to tap into the secondary market for wind assets in Ireland, while also pursuing opportunities in European markets, where it considering more than €500 million of asset sale processes.

Source: Irish Times

Who: Endeavour Technologies, Internet-of-Things (“IoT”) service provider, with technology to create, measure and manage Service Level Agreements between IoT Service Providers, their IoT Customers and their Service Partners. The business is founded by Brian Carroll who sold his last venture, Arantech, in 2009 for €75.8m.

What: The business has raised c. €2m from a stable of Irish investors including Focus Capital, Jaguar Capital’s Gerry Jennings, Richmond Marketing’s Barry Connolly and Fonua’s Don Maher.

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

Source: The Sunday Times

Who: Manna, a drone delivery business focused on fast food delivery and founded by Bobby Healy, former CTO and shareholder of CarTrawler.

What: Healy’s Manna has raised “significant” funding from three international investors, Peter Thiel’s Founders Fund, Dynamo Ventures and Alabaster.

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

Source: The Sunday Times

Who: Netshow Capital is a fund launched by an Irish and Spanish investment group FRK Investments.

What: €30m is to be made available over two years. Netshow Capital is seeking to cover up to 30% of the costs in return for intellectual property associated with any television series it invests in.

Why: The fund will be used to back high-budget TV series, focusing on streaming services such as Netflix

Source: Irish Independent

Who: Belfast-based start-up Raylo has received investment.

What: £2.9m (€3.46m) is backed by Macquarie Group, a global provider of banking and other financial services.

Why: The company is planning to disrupt the UK mobile market. Raylo now offers the iPhone 11, iPhone 11 Pro and iPhone 11 Pro Max, with subscriptions starting at £25.99/month, which is lower than many mobile providers.

Source: Belfast Telegraph

Who: Irish cybersecurity start-up Tines has raised a further funds.

What: $11m (€9.87m) comes from venture capital firms Accel and Index Ventures, with participation also from Blossom Capital. This latest injection of cash comes shortly after Tines raised $4.1m (€3.68m) at the end of October.

Why: The funding will be used for global expansion.

Source: Fora

Who: Web Summit agrees investment into Amaranthine Partners, a US-headquartered multi-million dollar venture capital firm. It is led by Patrick Murphy, previously of Goldman Sachs, and Web Summit co-founder David Kelly.

What: $2m (€1.8m) follows an initial investment of $500,000 last year, the last instalment is due in the first quarter of 2021.

Why: Amaranthine Partners is a c. $50m (€44.84m) tech-focused venture capital fund.

Source: Irish Times

Who: SOSV, a venture capital firm founded by tech veteran and former Dragons’ Den star Sean O’Sullivan, has raised its largest fund to date.

What: €248.8m oversubscribed SOSVI fund is almost double the $150m (€134.9m) raised for a preceding fund in 2017 and is also ahead of a previous $250m (€224.9m) target for the fourth one.

Why: It will be used to invest in about 150 new start-ups a year through SOSV’s various accelerator programmes, which cover areas such as hardware, software biology, food, robotics, medical devices, transportation and green energy. Most of the money raised for the new fund will however be deployed in later rounds for its best performers.

Source: Irish Times

Who: The Smart Tech fund, a brainchild of DBIC Ventures, the venture arm of Dublin Business Innovation Centre, has reached a first close in early-stage funding round.

What: €23m has been raised from a number of Irish tech veterans and several institutional investors. It is expected to reach a final close of more than €30m within the next 12 months. It also is backed with a €16m investment by Enterprise Ireland.

Why: The fund will mainly target B2B software companies in areas such as fintech, cybersecurity, healthcare, ICT, smart grid, digital transformation, as well as medical devices.

Source: Irish Times

Who: Sirius Aircraft Investments, a joint venture between Sirius Aviation Capital and Abu Dhabi Catalyst Partners, has secured investment.

What: $100m (€90m) comes from Abu Dhabi Catalyst Partners. It’s a joint venture between the Abu Dhabi sovereign Mubadala Investment Company and New York-based Falcon Edge Capital.

Why: The funds will be used for growing Sirius Aviation Investments into a leading mid-life aircraft lessor.

Source: Irish Independent

Who: Irish co-founded electric car rental company UFODrive has secured funding.

What: €2.6m round was led by Elliot Griffin’s boutique investment company BVP, an investor in green and SME businesses. It has completed over €9 million of equity and Green Bond investments this year and is on target to raise a further €5 million in the coming weeks which will be used to back other start-ups

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

Source: Irish Times

Who: Circle Voluntary Housing Association (VHA) has agreed a landmark investment package.

What: €51m finance package, structured by Centrus, who acted as financial advisor to Circle, and funded by AIB, provides the housing association with a three-part loan, over a 30-year period, which includes a revolving credit facility, a term loan and a working capital facility. The nature of the agreed package allows Circle VHA to re-use the borrowed funds at any time over the period of the loan, providing a safeguard for ongoing speedy development of social housing.

Why: The funding will provide social and affordable housing for families across the country. Circle VHA plans to deliver 250 homes over the course of the next 12 months through an innovative model of financing.

Source: Press Release

Brexit movement in the Week

Instead of ‘Thought for the Week’, we have been bringing you a weekly tracker using odds from oddschecker and taking off bookmakers margin to come up with deemed percentage probability of Brexit related outcomes.

With last week’s outcome most bookmakers have stopped taking bets on when Brexit will happen and those that are are effectively saying it is almost certain to be H1 2020.

@RenatusCapital Tweets

48.2

The Ulster Bank Construction Purchasing Managers Index (PMI) for November, up from 46.2 in October, showing the industry’s slowdown overall moderated last month. Any reading below 50 indicates contraction.  @IndoBusiness

1.8% & 16.3%

The year-on-year increase in the new and used (imported) private cars, respectively, licensed for November 2019 amounting to 1676 new and 9874 imported cars, according to @CSOIreland

3.6 points

The monthly drop in the UlsterBank’s latest purchasing managers’ index (PMI) falling to 47,7 in November, a reading below 50 signals contraction, according to @ulsterbank @irishtimes

1.1 & 4.7%

The year-on-year drop in the agricultural input and output price indices, respectively, for October 2019, according to @CSOIreland

4.2%

The year-on-year increase in the number of passengers handled by main Irish airports for Q3 2019 amounting to almost 11.6m passengers, according to @CSOIreland

3.3%

The forecast growth for the Irish economy for 2020, the lowest since 2013, according to the Economic and Social Research Institute (ESRI) quarterly commentary. @IndoBusines

5%

The year-on-year increase for the Irish GDP for Q3 2019, according to@CSOIreland

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

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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.